Crypto: Ethereum jumps 22% in 24 hours and crosses $2,200
The cryptocurrency market exploded on May 8, 2025, thanks to a huge jump in Ethereum’s price. In just a few hours, Ethereum soared 22%, climbing past $2,200. This sharp increase caused a strong reaction across the crypto world. It highlights how quickly the market can move and has sparked new hopes for the second-largest digital currency.
Ethereum is shown as a slim hero, leaping upwards midair, arms reaching for the sky, legs bent as if breaking through an invisible barrier.
To sum up: Ethereum rose 22% in one day and broke the $2,200 level. The rally followed a key technical breakthrough, crossing the resistance at $1,600. Meanwhile, the strength of the Ethereum network shows signs of a comeback, with the total value locked (TVL) up 41% in a month. The recent Pectra update, rolled out on May 7, may improve scalability and boost this growth.
May 8 was a historic day for Ethereum. The price jumped 22%, crossing the important $2,200 mark. This rise is part of a trend that started when Ethereum broke through the $1,600 level on April 22. Until then, that level had been seen as a ceiling since mid-December 2024. Breaking through that point was a key shift in how the market moved.
Technical indicators prove this change. The relative strength index (RSI), which shows how strong the buying momentum is, increased from 56 to 66 in one day. This shows more investors are buying.
Ethereum’s revival is also backed by strong basic data. The total value locked in the network went from $44.5 billion in early April to $52.8 billion in early May. That is a big jump of 41%.
This growth is driven by more deposits in key decentralized apps. Deposits on BlackRock BUIDL increased 50%, on Spark they went up 33%, and Ether.fi saw a 25% rise. These numbers show more demand and usage for Ethereum-based apps. Daily transactions on the network also went up 22%, proving activity is bouncing back.
Another major factor is the new Pectra update, released on May 7. While it’s hard to see its direct impact on the price, this upgrade improves how the network operates. It makes the system more efficient and ready to grow.
Ethereum faces more competition now, especially from Bitcoin ETFs. But this upgrade can help the blockchain stay strong and keep leading the market. As investors regain confidence, their interest continues to grow rapidly.