Recent Price Movements
- Ethereum's price surged over 20% after President Trump announced a US-UK trade agreement, reclaiming the $2,000 psychological level.
- The price growth is closely aligned with Bitcoin's, which crossed the $100,000 mark for the first time since February 7.
- Ethereum's current price is around $2,200, with potential resistance near the $2,250 level ¹.
Pectra Upgrade
- The Pectra upgrade went live on the Ethereum mainnet on May 7, introducing several features to improve wallet functionality and network efficiency.
- The upgrade is expected to make Ethereum more attractive to institutional participants, with some analysts predicting a growing number of long positions.
- Developers are now working towards launching the next upgrade, Fusaka, by the end of the year ¹ ².
Market Trends
- Ethereum's stablecoin market capitalization has risen to $124.5 billion, giving Ethereum 52% of digital-dollar liquidity via USDT.
- Institutions such as Mastercard and Stripe have integrated these rails, and the coming EIP-7251 upgrade promises larger validator stakes and greater efficiency.
- Long-term Ethereum holders have increased their balances by 22.5% since March, signaling strong bullish conviction despite recent price corrections ³.
Other Developments
- Vitalik Buterin has proposed a major overhaul of the Ethereum base layer, aiming to simplify the protocol's architecture for improved security, scalability, and long-term sustainability.
- The US Securities and Exchange Commission (SEC) has approved listing and trading options on some spot ETH exchange-traded funds (ETFs).
- Ethereum's transaction fees have crashed to their lowest level in five years, at $0.168 per transaction, potentially paving the way for mass adoption ³.