Ethereum’s Pectra Upgrade Spurs 20% Price Surge, Activates Superchain L2 and Enables EIP-7702

Ethereum’s Pectra upgrade went live on the mainnet, introducing several enhancements including improved wallet user experience, increased validator stake limits from 32 to 2,048 ETH, and upgrades to deposit and exit mechanisms along with Layer 2 scalability features. The upgrade marks the first major shift in Ethereum’s positioning in two years, enabling new use cases and facilitating adoption to better compete in the crypto space. Despite a modest initial market reaction with ETH price rising only 0.96% and a slight decline in daily active addresses, Ethereum experienced a 20% price surge shortly after, representing its largest gain in four years. The Superchain, Ethereum’s Layer 2 ecosystem, activated the Pectra upgrade within 48 hours of its mainnet launch, becoming the first L2 ecosystem to implement it. The Superchain currently handles 12.9 million daily transactions, collects 83% of Layer 2 fees, and contributes to over half of Ethereum’s blob fee burn. The upgrade is expected to enhance these metrics further. Additionally, EIP-7702 was enabled on Superchain Layer 2s, with adoption metrics forthcoming. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant