Ethereum Pectra Upgrade Triggers 18% Rally—Price Smashes Through $2,200

Ethereum’s latest network overhaul—dubbed ’Pectra’—just lit a rocket under ETH prices. The second-largest cryptocurrency surged past $2,200, marking an 18% gain as traders piled into the upgrade narrative.

Why the frenzy? Pectra bundles key scalability fixes with reduced gas fees, a combo that’s catnip for institutional deck slides. Never mind that half these ’game-changing’ upgrades were promised in 2021—this time it’s different (until the next congestion crisis).

Meanwhile, Bitcoin maximalists are muttering about ’distraction pumps’ while secretly checking their ETH staking yields. The market’s voting with its wallet: Ethereum’s dominance grows as DeFi TVL spikes and L2s hit new ATHs.

Just remember—every ’epoch-defining’ crypto breakthrough comes with a sell-the-news expiry date. Ask your friendly neighborhood VC bagholder from the last ’merge’ hype cycle.

The upgrade that became live on Tuesday is Ethereum’s biggest update since the 2022 Merge. It has code changes that improve staking efficiency, validator operations and scalability for LAYER 2 solutions, thus further increasing the appeal of Ether.

This surge is also underpinned by a more general market optimism. Positive macroeconomic news such as revived U.S.-China trade talks have boosted investor sentiment and now many are seeing crypto as a hedge against market uncertainty. 

“Investors are altering their perception on crypto as altcoins are gaining buying momentum,” said Ruck, a market analyst. In the meantime, Bitcoin (BTC) continued its rally gaining 4% to $102,526 buoyed by expectations around U.S.-China trade negotiations. 

The price surge of Ether and the strong performance of Bitcoin reflect a resurgence of Optimism in the crypto space.

Also Read: ethereum price Crosses $2000 as TVL Surges 41%, Is $3K Next?