Ethereum grew by 12% in the moment amid blockchain updates

Ethereum ETH $1,765.08 Bridged Ether (StarkGate) -1.96% Market capitalization $0.16 billion VOL. 24 hours $0.86 billion rose by 12%, reaching a range between $ 1785 and $ 1892 amid expected technical updates to the network. The cryptocurrency’s capitalization increased to $ 215.43 billion, and the daily trading volume exceeded $ 25.2 billion, indicating that investors are becoming more active. Analysts also recorded a 56% decrease in transaction fees compared to the previous week, which creates more favorable conditions for users.

One of the main factors behind the growth was the statement by Ethereum co-founder Бутерін" href="https://noworries.news/biography/vitalij-buterin/" data-bio-id="3642">Vitalik Buterin about plans to integrate the RISC-V architecture into the Ethereum virtual machine. This open source software solution can potentially improve the efficiency of transaction processing in the rollups by a hundred times, significantly reducing costs and speeding up network operations.

Another driver of optimism among investors was the expected network update called Pectra, scheduled for May 7. Historically, such technical changes have been accompanied by an increase in trading volumes and increased interest from major players, including Galaxy Digital.

The market is also witnessing a change in trader behavior: more and more arbitrage positions, typical of previous quarters, are being closed. This indicates a transformation in investor sentiment towards long-term participation, which further strengthens bullish expectations in the Ethereum market.

It should be added that at the time of writing, the leading altcoin is showing a dip at $ 1,755 with a market capitalization of $ 211.9 billion. Traders made daily trading deals worth $ 18.6 billion, and the total number of coins on the market is 120.7 million ETH.