๐ Ethereum's Pectra Upgrade Fuels Market Rally
Ethereum's recent Pectra upgrade has significantly boosted its value, indicating a shift in market sentiment. The upgrade brings improvements in speed, security, and gas efficiency, making Ethereum more attractive to both retail and institutional investors. Following the upgrade, ETH experienced a weekly surge of over 30%, with other altcoins like SOL, ADA, XRP, and BNB also seeing gains ranging from **2% to 6%** .
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๐ Institutional Accumulation Signals Confidence
Institutional investors are showing increased confidence in Ethereum:
Abraxas Capital Management has withdrawn 61,401 ETH (approximately $116.3 million) from various crypto exchanges over the past two days, indicating a strong accumulation strategy .
World Liberty Financial, associated with former U.S. President Donald Trump, acquired 1,587 ETH worth around $3.5 million, further demonstrating institutional interest in Ethereum .
Additionally, data from Sentora (formerly IntoTheBlock) reveals that whales have been withdrawing Ethereum from exchanges for the third consecutive week, totaling outflows of $559 million, suggesting a trend towards long
-term holding .
