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Despite high expectations, the Pectra upgrade—which marked a new chapter in Ethereum’s journey toward achieving optimal scalability—has done only little to boost the price of ETH.  ETH is trading at $1904 at press time, up by just 3% from its weekly open—suggesting that traders didn’t really adjust their positions despite yesterday’s successful upgrade deployment.  However, in spite of the sluggish reaction to the positive event, key indicators and price predictions from prominent analysts indicate that ETH’s strongest gains lie ahead.  $ETH has been sideways after a bullish momentum. Price is strongly holding the support, for long term this opportunity is once in a lifetime, stacking up as much as I can. For the short term $2100 looks a good next target for coming days. Momentum is building, pump is on the… pic.twitter.com/wCv2g9C96b — Crypto General (@DaCryptoGeneral) May 7, 2025 Popular trader Crypto General claims that the altcoin leader could target $2200 in the short term, since it is holding strong at the support level.  Pectra Goes Live on Ethereum Mainnet — What Should Users Expect? After multiple delays, Ethereum’s eagerly-awaited Pectra upgrade eventually arrived on Wednesday, May 7th, 2025, bringing code changes from eleven Ethereum improvement proposals (EIPs) to the mainnet.  Described by many as Ethereum’s most ambitious upgrade since “The Merge,” Pectra is poised to deliver better account abstraction, increased institutional staking, and enhanced scalability, especially with these three major EIPs: EIP-7702, EIP-7251, and EIP-7691.  EIP-7702 was co-authored by Ethereum co-founder Vitalik Buterin and it lays a solid foundation for externally owned accounts to exhibit smart contract functionality and cover on-chain transaction fees in tokens that are not ETH. EIP-7251, on the other hand, increases the maximum staking limit from 32 ETH to 2,048 ETH, streamlining operations for large stakers.  And finally, EIP-7691 focuses on improving Ethereum’s scalability,…

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Filed under: News - @ May 8, 2025 12:28 pm