Pectra Goes Live This Week – Here’s What It Means for the Price of ETH
The post Pectra Goes Live This Week – Here’s What It Means for the Price of ETH appeared on BitcoinEthereumNews.com. It’s the same old story: developers devote years of their lives to writing code and running testnets to bring us better blockchain technology and the first question they get asked is “Wen moon?” It’s almost as if the price of ETH is a simpler concept for retail traders to grasp than Verkle Trees and blobs. That’s why devs dev and traders trade. But with Pectra set to be live on Ethereum from May 7, the devving part of this particular hard fork is now done and dusted. The trading part, however, is just getting started. And while predictions of the Ethereum network’s future hinging upon the market’s reaction to Pectra are overblown, there’s no denying there’s a lot on the line. Like a $24B liquid staking sector and a DeFi industry that’s looked devoid of ideas for quite some time. If Pectra can reinvigorate the latter without breaking the former, it’ll make everyone happy – ETH bulls especially. Not only do such optimists still exist, but their numbers are growing stronger with every passing day now the messy business of Pectra’s testnet bugs have been consigned to history. For those who’ve been watching the charts rather than running the clients, here’s what Pectra means for the price of ETH, not just this week, but through 2025 and beyond. Pre-Pectra Price Predictions Few Ethereum experts have been predicting Pectra to send ETH headlong into a multi-week green candle. Because that’s not going to happen. This is a protocol upgrade: not a trillion-dollar market buy. But when pushed on how the hard fork will impact demand for ETH, the developer community appears confident that better times are ahead for everyone – traders included. Alex Loktev, CRO at ETH staking service P2P.org, has been primarily interested in what Pectra means for the platform’s…
The post Pectra Goes Live This Week – Here’s What It Means for the Price of ETH appeared on BitcoinEthereumNews.com.
It’s the same old story: developers devote years of their lives to writing code and running testnets to bring us better blockchain technology and the first question they get asked is “Wen moon?” It’s almost as if the price of ETH is a simpler concept for retail traders to grasp than Verkle Trees and blobs. That’s why devs dev and traders trade. But with Pectra set to be live on Ethereum from May 7, the devving part of this particular hard fork is now done and dusted. The trading part, however, is just getting started. And while predictions of the Ethereum network’s future hinging upon the market’s reaction to Pectra are overblown, there’s no denying there’s a lot on the line. Like a $24B liquid staking sector and a DeFi industry that’s looked devoid of ideas for quite some time. If Pectra can reinvigorate the latter without breaking the former, it’ll make everyone happy – ETH bulls especially. Not only do such optimists still exist, but their numbers are growing stronger with every passing day now the messy business of Pectra’s testnet bugs have been consigned to history. For those who’ve been watching the charts rather than running the clients, here’s what Pectra means for the price of ETH, not just this week, but through 2025 and beyond. Pre-Pectra Price Predictions Few Ethereum experts have been predicting Pectra to send ETH headlong into a multi-week green candle. Because that’s not going to happen. This is a protocol upgrade: not a trillion-dollar market buy. But when pushed on how the hard fork will impact demand for ETH, the developer community appears confident that better times are ahead for everyone – traders included. Alex Loktev, CRO at ETH staking service P2P.org, has been primarily interested in what Pectra means for the platform’s…
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