Ethereum’s Pectra Upgrade Fuels Smart Wallet Revolution with 26,000+ Migrations
Ethereum’s Pectra upgrade is driving significant adoption of smart accounts, with over 26,000 wallets transitioning to the new EIP-7702 standard. This upgrade merges the capabilities of Externally Owned Accounts (EOAs) and smart contracts, enabling programmable transactions while maintaining address continuity. The innovation marks a pivotal shift in how users interact with the ethereum network, potentially boosting ETH’s utility and value. As of May 17, 2025, ETH is trading at 2583.39 USDT, reflecting growing confidence in Ethereum’s ecosystem. Below is a detailed summary of this transformative development.
Ethereum’s Pectra Upgrade Drives Smart Wallet Adoption with Over 26,000 Wallets Migrating
Ethereum’s Pectra upgrade is accelerating the adoption of smart accounts, with more than 26,000 wallets transitioning to the new EIP-7702 standard. This innovation merges the functionality of Externally Owned Accounts (EOAs) and smart contracts, enabling programmable transactions without sacrificing address continuity.
The upgrade marks a pivotal shift in user interaction with the Ethereum network, blending the flexibility of EOAs with the automation capabilities of smart contracts. Analysts highlight this as a foundational step toward broader smart wallet adoption, potentially reshaping decentralized finance (DeFi) and on-chain usability.
Ethereum Poised for Rally After Support Bounce, Targeting $4,000+
Ethereum has surged 3.87% in the past 24 hours to $2,624, marking a 12% weekly gain. The rebound follows a bounce from long-term symmetrical triangle support, with technical charts suggesting a potential rally toward $4,000 resistance.
On-chain data reveals wallets holding 100-100,000 ETH currently sit on profits, with aggregate cost bases below $2,225. The cryptocurrency’s recovery aligns with a multi-year trendline established since its 2021 breakout above $1,000.
DOJ Proceeds with Trial Against Tornado Cash Founder Roman Storm
The U.S. Department of Justice is moving forward with its case against Roman Storm, co-founder of cryptocurrency mixing service Tornado Cash. Prosecutors have dropped one charge related to money-transmitter registration but are pursuing allegations of money laundering.
The decision follows internal deliberations after Deputy Attorney General Todd Blanche’s memo criticizing "regulation by prosecution" in the crypto space. Tornado Cash recently scored a legal victory when a court ruled the protocol couldn’t be sanctioned, though its legal troubles persist.
Ethereum’s Scalability Challenges Shift Focus to Next-Gen Blockchains Like Kaanch Network
Ethereum’s 2025 resurgence, driven by ETF speculation and the Pectra upgrade, has reignited LAYER 1 ecosystem interest. Yet persistent high gas fees and sluggish transaction speeds are diverting attention to scalable alternatives.
Kaanch Network emerges as a contender, currently in Stage 5 of its presale. The Layer 1 blockchain positions itself as infrastructure for the next growth cycle, emphasizing cross-chain flexibility and cost efficiency.
