Ethereum Price Analysis: How UK Trading Firm Net $77M Profits on $655M ETH Purchase after Ethereum Pectra Upgrade

Ethereum price holds firm above $2,500 despite broader market hesitation, with UK firm’s strategic ETH investment post-upgrade signaling rising institutional confidence.

UK Trading Firm Nets $77M Profit on $655M Ethereum Investment Following Pectra Upgrade

Ethereum (ETH) maintained composure on Friday, dipping only 1.4% to trade near $2,587, outpacing rival layer-1 assets like Solana and XRP, in largely flat crypto market.

Reinforcing ETH price resilience, a UK-based trading firm has earned significant profits from a sizable ETH purchase made shortly after the network’s Pectra upgrade.

On May 16, a cryptocurrency wallet suspected to be tied to the UK-based investment firm Abraxas Capital Management has quietly gathered a massive 278,639 ETH, valued at around $655 million.

The London asset manager appears to have purchased the Ether at an average cost of $2,350, shortly before Ethereum’s Pectra upgrade went live, according to blockchain analytics from Lookonchain.

With the current price exceeding $2,600, the wallet is now sitting on unrealizeds gain of approximately $77 million.

This move has renewed interest in ETH’s long-term value, particularly as the upgrade improved scalability, validator efficiency, and overall gas optimization enhancing Ethereum’s fundamental appeal to institutional players.

The firm’s strategic accumulation following a major network upgrade signals professional confidence in ETH’s ability to outperform over time, particularly in the face of evolving regulatory and macro headwinds.

Furthermore, the timing of the purchase around the Pectra’s upgrade deployment, highlights how technical innovation within Ethereum continues to influence trading  decisions among sophisticated large investors.

What’s Next?

According to Coingecko data, ETH price current holds above $2,587 , with the $2,500 area acting as an immediate psychological support zone.

If crypto market sentiment stabilizes and institutional interest, like that seen from the UK firm, persists, ETH appears poised to reclaim higher ground in the $2,700 to the $2,800 range.

Moreover, the aftershock of the Pectra upgrade is still in its early phases. As users and developers integrate the improved network dynamics, Ethereum may further attract staking-related activity.

In the medium to long term, price action could benefit from a tighter supply narrative driven by staking lockups and reduced issuance.

Although broader crypto markets show negative year-to-date returns, the $691 million inflows from price action eases doubt capacity to retain value, and attract institutional. A push beyond $2,800 could eventually open the path toward $3,000, contingent on macro risk sentiment and continued protocol-level progress.

Ethereum Forecast Today: Bulls Defend $2,500 Base, Eyes Set on $2,800 as Institutional Demand Builds

Ethereum price forecast today points to the formation of a stable base above $2,500, with bullish momentum supported by institutional activity and favorable network upgrades.

Despite lackluster short-term performance across the crypto space, ETH’s consolidation is healthy, with Friday’s session closing near daily highs—indicating renewed accumulation pressure.

The Bollinger Bands remain wide, reflecting sustained price volatility, but the recent candles suggest reduced downside pressure as prices stabilize near the mid-band. RSI is perched around 70.24, signaling momentum is positive yet balanced, with no signs of imminent overextension.

ETH is also trading consistently above its VWAP at $2,590, supporting the narrative that majority of the most-recent buyers paid a premium above current prices to get their orders filled quicker, which signal, dominant bullish momentum.

With support near $2,500 holding steady and recent institutional demand spikes confirming strong hands accumulating on dips, the $2,800 resistance remains the next test. If breached, it could quickly trigger a rapid rally to $3,000.

Conversely, multi-day closes below the $2,450 level would invalidate this bullish forecat, exposing ETH risks of a corrective drop toward the $2,200 zone.

However, with key fundamentals ETH price forecast signals aligning positively since the Pectra upgrade, the bullish narrative remains dominant.