Ethereum sees a 12% rise, driven by ETH liquidity and technical upgrades like Pectra.
- Ethereum surges 12% due to technical upgrades and market liquidity changes.
- ETH price gaining momentum towards $1,900.
- Anticipation for Ethereum’s Pectra upgrade on May 7.
Ethereum’s value surged by 12% to approximately $1,785–$1,892, amid market activities and technical upgrades.
The rise is linked to increased liquidity and anticipation for upcoming upgrades, with notable market reactions showing renewed investor interest.
Ethereum Rises 12% Boosted by Pectra Upgrade
Ethereum’s 12% surge reflects significant market movements, aided by increased on-chain activity and upcoming technical upgrades such as the Pectra upgrade. This upgrade is scheduled for May 7.
Vitalik Buterin, Co-founder & Chief Scientist, Ethereum – “Vitalik Buterin proposed integrating RISC-V, an open-source processor standard, into the Ethereum Virtual Machine (EVM). This upgrade could improve efficiency for rollups by over 100x — making the network faster and cheaper to use.”
Vitalik Buterin proposed key network improvements that enhance Ethereum’s efficiency. Major institutional players like Galaxy Digital engaged in substantial transactions, further influencing market momentum.
Ethereum Market Cap Hits $215 Billion
The surge impacted Ethereum’s market cap, pushing it to $215.43 billion. Increased trading volume reflects heightened interest, with $25.21 billion recorded in daily transactions.
A lot of those arbitrage positions that dominated our agenda 2-3 months ago have now closed.
Market analysts note transaction fees fell by 56% week-over-week, suggesting reduced congestion and favorable conditions for renewed investor participation.
Price Patterns Show Technical Upgrade Influence
Past ETH price surges, often linked to technical upgrades, show similar patterns of investor enthusiasm. These events typically align with increased trade volumes and whale activity.
Experts suggest potential further gains if institutional interest remains strong, particularly with long-term network improvements anticipated from the upcoming upgrades.
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