Ethereum Price Holds Steady Following Pectra Upgrade
Summary
Ethereum's Pectra upgrade went live smoothly, but ETH's price remained stable, trading around $1,830, 40% lower than a year ago. Similar to the post-Merge period, the upgrade did not boost prices, as such events are often seen as "sell the news" opportunities. Pectra aims to enhance usability for ETH owners and validators with 11 Ethereum Improvement Proposals. The Federal Open Markets Committee meeting is currently a significant market focus, with a 95.6% chance of interest rates remaining unchanged. Vitalik Buterin believes simplifying Ethereum's infrastructure could increase adoption. ETH remains below its all-time high of $4,891 from November 2021.
