Ethereum surged 49% in just six days, surpassing $2,700 for the first time since February.
Retail sentiment has turned bullish as social media discussions fueled expectations of a rally.
Transaction fees on the Ethereum network remain low, supporting ongoing network activity.
Ethereum's recent price surge is driven by a combination of sentiment, network growth, and low transaction costs, with retail traders eyeing a potential move towards $3,500.