Ethereum (CRYPTO:ETH) has surged by 58% in the past month, surpassing the broader crypto market by 14%.

Despite struggles above $4,000, ETH reached its highest price in over two years, narrowing the gap with Bitcoin (CRYPTO:BTC).

Anticipation surrounding the U.S. SEC's decision on an Ethereum ETF by May 23 has fueled this growth.

The Dencun network upgrade on March 13 aims to reduce Ethereum transaction fees, addressing a long-standing issue.

Excessive leverage in ETH futures markets poses a risk of volatility, potentially impacting momentum.