The Ethereum Pectra upgrade is coming! The mainnet officially launches on April 30, and the crypto world is about to stir things up!
What impact will this upgrade have on ETH?
1. Major performance upgrade: Transfers will be faster and cheaper, engaging in DeFi and trading NFTs will feel like riding a rocket. For example, a transfer that used to take half a day might now arrive in seconds. With lower transaction fees, those who are farming on-chain will be more willing to dive in, and the ecosystem will definitely become more lively.
2. Stronger burning mechanism: It’s said that this upgrade will improve the token burn mechanism, meaning the amount of ETH mined by miners may decrease. Just like last year's London upgrade introduced EIP-1559, if more ETH is burned this time, the circulating supply will dwindle, making it easier for prices to rise.
How will the market trend next?
In the short term, it’s likely to be a roller coaster; with the news just out, some might sell off while others buy the dip. However, as long as the testnet doesn’t run into issues, the closer we get to the upgrade date, the more likely big players will position themselves in advance. In the long term, if we can truly increase TPS and lower gas fees, ETH can definitely outpace other public chains, and it won’t be a dream for institutional big shots to come in and scoop up.
Here are three major reasons to buy the dip on ETH now:
1. The ecosystem is about to explode: This upgrade is essentially a booster shot for the entire Ethereum ecosystem. For example, layer two networks (like Arbitrum, Optimism, etc.) will run more smoothly, and as more users come on board, the consumption of ETH as "gas fees" will definitely rise.
2. Market enthusiasm is at its peak: Every upgrade is a golden time for speculation. Right now, major communities are spreading this news; new investors are eager to get in, and old investors are busy increasing their holdings. If you're not getting on board at $1500, are you really going to wait until it hits $3000 to chase the high?
3. Technical indicators are in place: The weekly MACD is about to cross bullish, and the daily chart is holding steady above the 200-day moving average. Coupled with favorable upgrades, we could at least see previous highs, and with some luck, it might even break historical highs.
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