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Ethereum’s Pectra Upgrade Fuels 30% Price Surge to $2,400

The successful rollout of Ethereum’s Pectra upgrade improves scalability and staking flexibility, driving renewed investor confidence and broader crypto market gains.

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Bitcoin may see a short squeeze higher. (Pixabay, PhotoMosh)
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Overview

  • Ethereum implemented its Pectra upgrade on Wednesday, introducing account abstraction and enhanced staking features to improve scalability and user experience.
  • Following the upgrade, Ethereum’s price rebounded sharply, rising nearly 30% to surpass $2,400 for the first time since early March.
  • The crypto market saw a 3.5% increase in total capitalization, with Ethereum-based projects leading gains among the top 100 tokens.
  • Analysts attribute Ethereum’s rally to the flawless execution of the Pectra upgrade and easing global trade tensions, including a new US–UK trade deal signed on Thursday.
  • Ethereum’s recent surge follows a 33.3% decline over the past three months, highlighting renewed optimism for the asset amid improving macroeconomic conditions.