The completion of the Shapella upgrade, the final step in Ethereum's transition to a proof-of-stake consensus, has been a significant driver of the price increase, with ether trading over $2,000 after the upgrade.
Additionally, the emergence of Ethereum as a key blockchain for tokenized real-world assets has increased its utility and attractiveness to investors and institutions, leading to a steady rise in its price.
Furthermore, the potential for additional liquidity and staking rewards has attracted investors, with a significant amount of ether being staked, representing 15% of ether's total market capitalization.