(II) Industry factors
Technology upgrade: Ethereum's Pectra upgrade is one of the important factors driving its price increase recently. The upgrade on May 7 introduced key improvements such as higher staking limits and account abstraction (EIP-7702 standard). These improvements have enhanced Ethereum's competitiveness in smart contracts, decentralized finance (DeFi) and other fields, making the Ethereum ecosystem more complete, attracting more developers and users, and thus driving up prices.
Market sentiment and investor confidence: There have been a lot of positive news in the crypto market recently, such as the price of Bitcoin breaking through the historical high, the technology upgrade of Ethereum, and the continuous entry of institutional investors, which have greatly enhanced the confidence of market participants and formed a positive market sentiment. For example, large asset management institutions such as BlackRock and Fidelity continue to increase their holdings of Bitcoin and Ethereum, triggering a market follow-up effect. At the same time, the Crypto Fear and Greed Index is currently at 75 (greed), indicating that the market is in a highly greedy state, and investors are optimistic, which drives up the price of cryptocurrencies.
Industry activities: The Bitcoin 2025 conference being held in Las Vegas, USA, has become the focus of the market. The conference attracted more than 50,000 participants, and many industry heavyweights gathered together. Various industry dynamics, technological progress, cooperation intentions and other news released during the conference may have a significant impact on the market, further increasing market enthusiasm and investor attention.
$WCT
