Over 25,000 Wallets Upgrade to EIP-7702 as ETH Jumps 20% and Dubai Partners for Government Crypto Payments

Following the recent launch of the Ethereum Improvement Proposal 7702 (EIP-7702) known as the Pectra upgrade, there has been a marked increase in smart wallet adoption across multiple blockchain networks. Over 25,000 smart accounts have been upgraded to EIP-7702, with 13,013 on Ethereum, 5,588 on Optimism (OP) Mainnet, 5,261 on Binance Smart Chain (BSC), 2,851 on Base, and 229 on Gnosis. Within a week of the upgrade, more than 11,000 EIP-7702 authorizations were recorded on Ethereum alone. Notably, over 4,700 EIP-7702 transactions were recorded shortly after the upgrade, contributing to a 20% rise in the price of Ether (ETH). Additionally, Dubai has partnered with an unspecified entity to enable government crypto payments, highlighting growing institutional adoption. Among the upgraded smart accounts, 6,900 belong to WhiteBit, 4,800 to MetaMask, 4,000 use an unidentified implementation, and 3,400 are associated with OKX. 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