According to PANews, after the successful upgrade of Ethereum Pectra, ETH rose by more than 30% in a single week. Other altcoins such as SOL, ADA, XRP and BNB also gained 2-6%.
Nick Ruck, director of LVRG Research, said that traders believe that the cryptocurrency industry may have a second chance and investors' views on cryptocurrencies are changing. Altcoins are breaking away from negative trends, and risk appetite is bringing buying pressure.
Traders are keeping a close eye on this weekend’s U.S.-China trade talks, which begin in Switzerland on Saturday night. Any signs of a stalemate or escalation in tensions could undermine the current rally.