%Ethereum (CRYPTO: $ETH) has risen as much as 20% in the past 24 hours after the completion of the highly anticipated %Pectra Upgrade.
Ethereum is experiencing its biggest gain since 2021 as investors and traders react favourably to the upgrade, and amid a broader rally in the entire crypto market.
%Bitcoin (CRYPTO: $BTC) has broken above $100,000 U.S. for the first time in three months.
Ethereum’s Pectra upgrade is its biggest change since the “Merge” occurred in 2022 and represents a big hard fork in the digital asset’s protocol.
The upgrade consolidates validator operations by raising the staking limit from 32 to 2,048 Ethereum tokens, advances wallet usability, and allows greater smart contract functionality.
The Pectra Upgrade and positive response is welcome news for Ethereum, which had fallen 40% this year. Analysts note that the Ethereum’s blockchain hasn’t grown since 2021.
The Pectra Upgrade appears to have come at the right time with the entire crypto sector on an upswing and the 20 largest digital assets up over 10% in the past few trading days.
Ethereum is currently trading at $2,345 U.S.
