$BTC

Ethereum gains 8% with key developments driving institutional interest

Ethereum rose by 8% to $2702 as the Pectra upgrade enhances scalability and institutional futures interest rises by 12%.

A decline in inflation in the United States to 2.3% fuels demand for cryptocurrencies; Bitcoin stability supports Ethereum futures valued at $32 billion.

Ethereum (ETH) increased by 8% in the last 24 hours, reaching $2702 amid heightened activity in the altcoin market. This increase follows a rise of 40% from the previous week, with multiple factors contributing to the upward trend.

Pectra upgrade enhances network capabilities

The Ethereum network activated the Pectra upgrade last week, introducing changes aimed at improving transaction speed and reducing costs. These adjustments position Ethereum to compete better with other blockchain platforms, especially those prioritizing high throughput. Developers emphasize that these upgrades address scalability, a priority for institutions exploring decentralized applications.

Declining inflation stimulates demand for crypto

Data on U.S. inflation released Tuesday showed a year-on-year decline of 2.3%, easing concerns about aggressive monetary tightening. As traditional markets react to this change, #