▶️ Ethereum's recent upgrades are indeed generating buzz! The Pectra upgrade, launched on May 7, 2025, has enhanced Ethereum's scalability and efficiency, allowing for faster and cheaper transactions. This upgrade combines the Prague and Electra updates, introducing key features like batched transactions and increased data blobs.
🟢 Key Upgrades:
➡️- Increased Gas Limit: Ethereum's recent upgrade has increased the gas limit to 31.5 million gas units, allowing for higher transaction capacity and improved scalability.
➡️- Pectra Upgrade: This upgrade doubles the scaling capacity of layer 2 networks, significantly impacting transaction volumes and overall efficiency.
➡️- Schwarzschild Upgrade: The newly released update, Geth 1.14.13, future-proofs the network to handle evolving technological demands ¹ ².
🟢 Impact on Ethereum:
➡️- Scalability: Enhanced scalability will improve user experience and attract more developers and investors to the platform.
➡️- Transaction Fees: Lower transaction fees will make it more cost-effective for users to interact with the network.
➡️- DeFi and NFTs: With improved scalability and efficiency, DeFi and NFT applications on the Ethereum platform are likely to thrive.
🟢 Current Market Performance:
➡️- Price: Ethereum's price recently surged past $2,700, crossing significant technical levels and displaying bullish momentum.
➡️- Market Cap: Ethereum's market cap stands at $323.28 billion, with a current price of $2,548.91 .
Overall, Ethereum's upgrades are poised to take the network to the next level, enhancing user experience, scalability, and efficiency.