According to PANews, Ethereum's successful Pectra upgrade has led to a notable increase in its value, with ETH experiencing a weekly surge of over 30%. Other altcoins such as SOL, ADA, XRP, and BNB have also seen gains ranging from 2% to 6%.
Nick Ruck, head of LVRG Research, noted that traders are optimistic about the cryptocurrency sector potentially finding a new opportunity to hedge against market uncertainties. Investors are shifting their perspectives on cryptocurrencies as altcoins move away from negative trends, sparking renewed risk appetite and buying pressure.
Despite the positive momentum, traders remain vigilant regarding the upcoming U.S.-China trade talks, set to commence late Saturday in Switzerland. Any signs of a stalemate or escalating tensions could potentially dampen the current upward trend in the crypto market.
