$ETH

Can Ethereum Break Past $2,000 After the Pectra Upgrade??🤔

Ethereum recently experienced a notable surge in price, jumping to $1,800 and gaining 10% over the past week. While it still lags behind on a monthly timeframe, down by approximately 13%, optimism is building due to upcoming developments.

One of the major catalysts driving renewed interest is the scheduled Pectra upgrade, set for a mainnet launch around May 7, 2025.

This upgrade introduces 11 Ethereum Improvement Proposals (EIPs) and is expected to significantly enhance both staking efficiency and network scalability, adding long-term fundamental value to the Ethereum ecosystem.

The excitement surrounding Ethereum is also rooted in on-chain activity and volume on decentralized exchanges (DEXs). In March, Ethereum recorded a DEX volume of $64.66 billion, while April has seen around $45.57 billion so far.

However, it’s worth noting that Solana is currently outperforming Ethereum in this area, signaling the need for Ethereum to reclaim dominance in DEX activity.