Ethereum (ETH) is making a comeback after months of underperformance. At the time of writing on Friday, it remains above $2,500 after rising nearly 100% since the low in early April.
The Pectra upgrade has seen rapid adoption, with over 11,000 EIP-7702 authorizations already processed in a week, indicating healthy adoption by wallets and Decentralized Applications (dApps).
Is Ethereum's comeback real?
The price of Ethereum remains above $2,500 on Friday after rising nearly 100% since the low in early April.
The ETH Pectra upgrade has driven over 11,000 EIP-7702 authorizations in a week, indicating healthy adoption by wallets and dApps.
The growing use of stablecoins and tokenization, the institutionalization of Layer 2, and the closing of short positions in ETH support the price rally.
Ethereum (ETH) is making a comeback after months of underperformance. At the time of writing on Friday, it remains above $2,500 after rising nearly 100% since the low in early April.
The Pectra upgrade has seen rapid adoption, with over 11,000 EIP-7702 authorizations already processed in a week, indicating healthy adoption by wallets and Decentralized Applications (dApps).
In addition, the increase in stablecoin activity, the growing institutional adoption of Ethereum Layer 2 networks, and the closing of short positions in ETH fuel renewed optimism in the market. To understand if this rally has staying power, FXStreet spoke with several cryptocurrency experts for their insights.
The Ethereum Pectra upgrade drives authorizations.
The latest major update to the Ethereum network, Pectra, was launched on May 7, marking a significant step forward for the ecosystem. In just one week since its activation, more than 5,520 transactions and 11,055 authorizations have been processed under the new framework, according to Dune data, signaling strong adoption by wallets and dApps.
