Ethereum (ETH) has recently experienced a notable 5% price increase, reaching $2,616, primarily due to heightened institutional buying. This surge is further bolstered by the anticipation of the upcoming Pectra upgrade, which aims to enhance scalability and performance by merging the previously planned Prague and Electra updates.
The Pectra upgrade is expected to introduce several Ethereum Improvement Proposals (EIPs), including EIP-7251, which increases the staking amount per validator, and EIP-7702, allowing externally owned accounts to utilize smart contract functionalities. These enhancements are anticipated to improve network efficiency and attract more developers and users to the ecosystem.
Market analysts are optimistic about Ethereum’s future, with some predicting that ETH could reach new all-time highs by the end of 2025. This optimism is fueled by the combination of institutional adoption, technological advancements, and the overall positive sentiment in the cryptocurrency market.
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