Crypto交易员朱一旦
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Today's news is very significant and dense. The Ethereum Pectra upgrade will take place on May 7, 2025, at 6:05:11 PM, corresponding to block height epoch 364032. This is the largest system update since the 'Merge' in 2022.
🔧 Pectra Upgrade Overview
The Pectra upgrade combines the previously planned 'Prague' and 'Electra' upgrades, aimed at improving the scalability, user experience, and staking mechanisms of the Ethereum network. 
Key improvements include:
• EIP-7702: Account Abstraction
Allows externally owned accounts (EOA) to have smart contract capabilities, making wallets smarter and supporting features such as social recovery and gas fee sponsorship, enhancing user experience. 
• EIP-7251: Increase in Staking Limit
Increases the maximum effective staking limit for validators from 32 ETH to 2048 ETH, simplifying operations for large stakers, reducing the number of nodes, and improving network efficiency. 
• EIP-7691: Expansion of Blob Data Capacity
Increases the target and maximum Blob capacity per block from 3 to 6 and 9, respectively, aiding Layer 2 expansion and reducing transaction costs.
Then, the U.S. Federal Reserve (Fed) held a two-day monetary policy meeting from May 6 to May 7, 2025. The results will be announced at 2:00 AM Beijing time on May 8 (Thursday), at which point the Fed will announce its latest interest rate decision. Subsequently, Chairman Jerome Powell will hold a press conference at 2:30 AM to further elaborate on the policy stance and economic outlook.
According to CME Group's FedWatch tool, the market widely expects the Fed to maintain the federal funds rate in the range of 4.25% to 4.50% at this meeting, with a likelihood of a rate cut at only 3.2%. Despite President Trump's calls for a rate cut to stimulate the economy, Fed officials emphasize that they will continue to focus on inflation and employment data, adopting a 'wait-and-see' strategy.
🔧 Pectra Upgrade Overview
The Pectra upgrade combines the previously planned 'Prague' and 'Electra' upgrades, aimed at improving the scalability, user experience, and staking mechanisms of the Ethereum network. 
Key improvements include:
• EIP-7702: Account Abstraction
Allows externally owned accounts (EOA) to have smart contract capabilities, making wallets smarter and supporting features such as social recovery and gas fee sponsorship, enhancing user experience. 
• EIP-7251: Increase in Staking Limit
Increases the maximum effective staking limit for validators from 32 ETH to 2048 ETH, simplifying operations for large stakers, reducing the number of nodes, and improving network efficiency. 
• EIP-7691: Expansion of Blob Data Capacity
Increases the target and maximum Blob capacity per block from 3 to 6 and 9, respectively, aiding Layer 2 expansion and reducing transaction costs.
Then, the U.S. Federal Reserve (Fed) held a two-day monetary policy meeting from May 6 to May 7, 2025. The results will be announced at 2:00 AM Beijing time on May 8 (Thursday), at which point the Fed will announce its latest interest rate decision. Subsequently, Chairman Jerome Powell will hold a press conference at 2:30 AM to further elaborate on the policy stance and economic outlook.
According to CME Group's FedWatch tool, the market widely expects the Fed to maintain the federal funds rate in the range of 4.25% to 4.50% at this meeting, with a likelihood of a rate cut at only 3.2%. Despite President Trump's calls for a rate cut to stimulate the economy, Fed officials emphasize that they will continue to focus on inflation and employment data, adopting a 'wait-and-see' strategy.
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