Ethereum Pectra upgrade adds new features — How long before ETH price reacts? 🔄
Ethereum's Pectra upgrade aimed to enhance network features but had little impact on ETH prices. The lack of price movement surprised traders, as they anticipated a potential rise to $2,200. Analysts speculate that macroeconomic factors and underperformance compared to the broader market have played a role in this subdued reaction.
The muted response may also be due to high Ethereum base layer fees previously limiting activity. Moreover, Ethereum lags behind competitors like Solana and BNB Chain in user adoption and network activity, despite leading in total value locked (TVL).
Traders are focused on competitors like Solana and Tron, given their impressive performance in decentralized finance. Ethereum's future price recovery may depend on demonstrating clear network improvements and increased user engagement.
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