Ethereum's trading volume skyrocketed by 200% in just 24 hours to $108.76 billion, driven largely by increased institutional interest and investment in its smart contract capabilities and upcoming upgrades like Ethereum 2.0.

This surge in institutional demand is linked to Ethereum's expanding role in decentralized finance (DeFi) and ongoing ecosystem developments, which bolster its long-term growth prospects.

Ethereum's upcoming upgrades, including Ethereum 2.0, are set to improve scalability and security, further attracting significant capital inflow and reinforcing its market position.

Despite recent volatility, with the price dipping by over 12%, Ethereum remains attractive at around $3,836, supported by its utility in DeFi and smart contracts.

Technical indicators like an RSI of 57.03 and positive MACD suggest ongoing market momentum, though traders remain cautious amid fluctuations.

Major financial institutions are openly embracing Ethereum, which is expected to draw more institutional investments as funds seek exposure to decentralized finance.