During the current bull market, Ethereum's price has lagged behind other cryptocurrencies, but the upcoming Pectra upgrade could attract developers and traders back to the network. The upgrade aims to enhance staking efficiency and address user experience issues, potentially boosting demand for ETH. Despite its underperformance, Ethereum remains a dynamic network, with Pectra set to introduce 11 Ethereum Improvement Proposals focused on scalability, user experience, and staking efficiency. Notable enhancements include allowing regular user wallets to act like smart contracts, enabling fee sponsorship in tokens other than ETH, and simplifying validator processes. These improvements could make Ethereum more user-friendly and institution-friendly, potentially tightening the circulating supply and supporting price growth. While the impact of the Pectra upgrade may take time to materialize, it could provide the narrative needed for Ethereum to regain market momentum and potentially trigger a new uptrend. Read more AI-generated news on: https://app.chaingpt.org/news

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