- Ethereum has increased by 20% after the Pectra upgrade, marking its biggest daily gain since 2021.
- The upgrade improves the efficiency of the development, the validator operations and the scalability of layer 2.
Ethereum had its greatest increase of one day in four years on Thursday, uprising 20% to negotiate above $ 2,200 after the introduction of Pectra upgrade. The big move in the price is then that the crypto is trying to catch up with Bitcoin, which recently crossed the $ 100,000 mark for the first time in three months.
The significant upgrading of the protocol increased investor confidence
The upgrading of Pectra, which was activated on Tuesday, is the largest upgrade of Ethereum since the merger 2022. This last fork is extended protocol introduces significant improvements to the efficiency of implementation, the operation of the validator and the scalability of layer 2.. The notable changes include EIP-7251, which makes the implementation limit of 32 to 2 048 ETH, and EIP-7702, which improves the conviviality of the portfolio with the mechanisms of abstraction of the accounts.
Min Jung, research analyst at Presto Research, said,
“ETH finally enters the momentum after dragging behind the Bitcoin for most of the year. The last Pectra upgrade contributed to a certain restoration of confidence.”
The wave occurs while the feeling of risk in the cryptocurrency markets is relaunched, partly following new positive macroeconomics. It includes US-Chinese trade discussions planned for Switzerland. Bitcoin also continued its own rally, up 4% to $ 102,526.
Although impressive gains have been carried out, analysts Cryptocurrency Warn that the bad activity of the network on the Ethereum blockchain implies a recovery for the old summits of all time is not at the corner of the street. However, market observers such as March Zheng of Bizantin Capital note that Ethereum has historically been the main gauge on the chain for risky appetite, with large peaks preceding historically broader Altcoin rallies.
The momentum of the cryptocurrency is not only a turnaround, ETH is still down by almost 50% from the peak of 2024.
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