Summary
- Ethereum has recently recorded its largest increase in 4 years, rising by about 20%.
- It was reported that investors reacted positively to the Pectra upgrade, leading to a significant rise in Ethereum's price.
- Analyst Jung Min-gyo stated that Ethereum is enhancing its network scalability and is catching up with Bitcoin's upward trend.
Ethereum (ETH) has recorded its largest increase since 2021 in four years.
CoinDesk reported that "investors have reacted positively to the recent Ethereum Pectra upgrade, with Ethereum prices rising by about 20%," noting it as "the largest increase since 2021." As of 11:03 AM, Ethereum is trading at the low $2202.9 range on CoinMarketCap, up about 20.6% from the previous day.
Previously, the Ethereum Foundation completed the Pectra upgrade on the 7th. The core of this upgrade is to enhance the scalability of the Ethereum network. Analyst Jung Min-gyo from Presto Research told CoinDesk, "(Already) Bitcoin is nearing its all-time high, but Ethereum is about 50% down from last year's peak," adding that "Ethereum is finally catching up with Bitcoin."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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