$ETH Ethereum (ETH) Surges Amid Pectra Upgrade and Whale Activity

As of May 7, 2025, Ethereum (ETH) is trading at approximately $1,832.34, reflecting a 1.52% increase over the past 24 hours. The day's trading range has seen lows of $1,757.58 and highs reaching $1,845.68.

Pectra Upgrade Enhances Network Capabilities

Ethereum's much-anticipated Pectra upgrade has been successfully implemented, introducing significant enhancements to the network. Key features include:

Smart Wallets: Improved user experience through account abstraction.

Increased Blob Capacity: Enhancing scalability for Layer 2 solutions.

Expanded Staking Limits: Validators can now stake up to 2,048 ETH, up from the previous 32 ETH limit.

To facilitate the upgrade, Binance temporarily suspended deposits and withdrawals for ETH and related tokens across multiple networks, including Arbitrum, Optimism, and Polygon. These services are expected to resume once network stability is confirmed. $ETH