Ethereum Price Stagnates As Developer Team Preps For Pectra Upgrade

Ethereum Price Hovers Above $3,400

Ethereum trades at $3,415, exhibiting a modest 2% increase over the past 24 hours. Its weekly and monthly price changes stand at +3.37% and -11.68%, respectively. The cryptocurrency's market capitalization amounts to $412.38 billion, growing by 2.5%. However, its 24-hour trading volume has declined by 5% to $27 billion.

Pectra Upgrade Scheduled for March

The Ethereum developer team aims to deploy the Pectra upgrade in March 2025. In preparation, hard forks for the Sepolia and Holesky testnets are anticipated in February.

Anticipated Improvements with Pectra

The Pectra upgrade will encompass various Ethereum Improvement Proposals (EIPs), which are expected to enhance user experience and network efficiency. Notably, the maximum validator stake limit will be raised from 32 ETH to 2,048 ETH.

Conclusion

While Ethereum's price has seen limited growth since December 2024, the forthcoming Pectra upgrade and a potential crypto bull run could potentially drive its price to new highs.