Etherrium developers activate the last phase of the PECTRA upgrade in Hoodi Testnet to make the blockchain more closer to the Mainnet update, which is very expected. If this test proceeds smoothly, a hard fork can be released in 30 days.
However, despite the sound of the winding of the upgrade, the price of Ether Leeum remains relatively flat and there is a slight downward momentum. What should investors expect?
Ethereum distributes PECTRA upgrades to Hoodi testnet.
Ether Lee’s final PECTRA test was broadcast live on HOODI network on Wednesday, showing the final stage of the test before the main net upgrade.
This final test is provided closer to the entire upgrade implementation, which is expected to improve Ether Leeum’s expansion and security.
The developers have confirmed that if the test proceeds smoothly, the PECTRA upgrade will be distributed after 30 days.
The PECTRA upgrade aims to solve the congestion problem by improving the trading process of Ether Leeum and reducing the waiting time. This allows the network to be more efficient for more users. The upgrade is also designed to further strengthen the infrastructure of Ether Leeum by optimizing the steak proof mechanism.
One of the main innovations of the PECTRA upgrade is that developers can run smart contracts directly in their wallets. In addition, users can pay gas costs with various tokens without limited to Etherrium (ETH).
The successful arrangement of the PECTRA upgrade in Hoodi Testnet caused a whale accumulation to expect to improve, causing optimism in the encryption community.
Whales are accumulated, but ETH prices are stagnant.
According to the Lookonchain data, the four whale addresses withdrew about $ 16,000 ETH from major encryption exchanges such as Binance, Gemini, OKX, and Krake after the Hoodi testnet upgrade.
Nevertheless, Ether Leeum’s price remained at a level of 2K, and it was slightly increased by 0.2% due to the positive development of the network over the last 24 hours.
In fact, according to CoingLass data, the price has fallen twice in the last 24 hours, resulting in an ethical liquidation worth $ 44 million.
The largest single liquidation order in the market was worth $ 39.5 million in the ETH-USDT transaction pairs in HTX Exchange.
Ether Leeum Price prediction
Despite the negative feelings around Etherrium (ETH), crypto analysts and traders are optimistic about the future.
Many people think that $ ETH is currently undervalued and has better performance compared to most Altcoins.
According to the Crypto Trader @astronomer, ETH is at an important price in the low range, especially ETH and Bitcoin (BTC), which is expected to reach a high high until mid -April.
Astronomer said in his X post, “We have a good clue to the chart where $ eth is heading.
According to him, Ether Leeum ($ eth) is currently in the level of support within a clear macro range. Despite the initial expectation of a greater downward movement after $ ETH swept the highest level in March 2024, the current setup is strongly represents a $ 4,000 re -visit.
In addition, with the lowest point in Bitcoin ($ BTC), the timing of $ ETH’s cycle is consistent with the past pattern, enhancing the optimistic outlook for $ ETH in the near future.
And another encryption analyst @tedpillows said, “$ eth is getting closer to the brake out.”
Why this is important
The success of the PECTRA upgrade is important for the scalability of Ether Leeum. This can know the new era of Ether Leeum and can cause long -term growth despite the current market change.