Ethereum in the early hours of Asian markets $2,348.49‘s Ether (ETH) value of the protocol with a positive response to the last update increased by 20 %, traded over $ 2100. This increase is considered part of the recent general recovery in the crypto market.
Pectra upgrade process
Ethereum started to implement the pectra upgrade by implementing the most important update after the major change in 2022. The update aims to improve the use of wallets thanks to the abstraction mechanisms of account abstraction while increasing the stinging limit from 32 ETH to 2,048 ETH in order to strengthen confirmatory activities. In addition, the update, which puts the nine different Ethereum improvement proposals into practice, hosts significant technical changes in the network.
Ming Jung (Presto Research): “ETH is finally caught after the BBTC throughout the year. BTC approaches record levels, while ETH 2024 is close to 50 %compared to the summit.”
The same name also made the following comment on the subject:
“The update helped to find some trust. Since the beginning of the year, ETHBTC decreased by 40 %may explain the activation of buyers at these levels.”
Market developments
While a general recovery is monitored in the crypto market, Bitcoin 
$103,267.87 After the last three months, he drew attention for the first time in a long time to exceed $ 100,000. Investors turned to higher -brought subcoins and structured products with the increase in risk appetite. These dynamics of the market send restructuring signals in the purchase and sale flow.
FlowDesk: “The transition to the high momentum of the sales flow is seen again;
Other indicators and market dynamics
Bitcoin is traded over $ 102,500 within the scope of the positive course of ETF flow, while some analysts indicate that existing upward targets may remain low. The opinion expressed by Standard Chartered reflects that the existing estimates are a little cautious.
At the same time, the Coindesk 20 index increased by more than 10 %while measuring the performance of the largest digital assets. This reveals that an increase in risk appetite of investors throughout the market has been observed.
According to Cryptoquant, the network activity, which has not increased since 2021 in the Ethereum blocking, may cause delays in the process of reaching the previous peaks. This analysis points to the existence of some risks in the process of recovery based on technical -based.
Market dynamics show that technical updates can increase investor confidence and that there are points that investors should approach cautiously. Investors should take into account the balance and opportunity balances when following the Ethereum update and other digital asset indicators.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
