Key dishes to remember
- The price of Ethereum jumped almost 50% to reach more than $ 2,700 after the Pectra upgrade.
- Abraxas Capital acquired 211,030 ETH estimated at around $ 477 million after upgrading.
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Ethereum joined almost 50% to more than $ 2,700 after the Pectra upgrade and is now about 6% below what he held when Eric Trump has publicly promoted the asset, according to tradingView data.
The president’s son expressed his haus on Ethereum feeling in an article on February 3, tweeting: “In my opinion, this is the perfect time to add $ ETH. You can thank me later.” He then published the declaration to delete the last sentence.
His position came to the heels of a market -scale sale linked to President Trump’s price proposal, during which Ether lost more than 15% in February 2 and 3, in terms of around $ 2,300 at the time.
Despite brief recovery, the slowdown has intensified in the middle of growing fears of climbing trade tensions and inflation, after Trump’s announcement in early April of radical prices. On April 7, Ether fell below $ 1,400 – its lowest level since November 2023.
The current price rally is fueled by activating Pectra upgrading on May 7, the renewal of bullish feelings motivated by positive developments in American-Chinese trade relations and an increase in institutional accumulation.
Pectra introduces a series of Ethereum (EIPS) improvement proposals designed to improve the efficiency of the implementation, the usability of the portfolio and the scalability of the layer 2. This helps to set critical bases for the next growth phase of the Ethereum network.
The upgrade represents a pivotal step for the platform, making user conviviality progress and allowing a systematic and programmable display. Ethereum increased by more than 40% in the five days that followed online upgrade.
On the institutional level, the investment company based in the United Kingdom Abraxas Capital acquired 211,030 ETH, valued at around $ 477 million, in the last six days, according to data by Arkham Intelligence.
Ethereum exceeds Alibaba and Coca-Cola in market capitalization
Ethereum exceeded Alibaba and Coca-Cola again in market capitalization to classify itself as the most precious 33rd active, after its price jumped more than 40% in five days after Pectra upgrade, according to data from Markercap companies.
Ethereum’s market capitalization is now about $ 325 billion, exceeding Coca-Cola enhancement of around 297 billion dollars and $ 320 billion in Alibaba.
On Monday, the second largest asset in Crypto briefly exceeded Alibaba with a market capitalization of $ 308 billion, but the Chinese technology giant found the advance after its shares increased by around 6%, raising Alibaba’s market capitalization to more than $ 317 billion, by market watch data.
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