Ethereum, the second-largest cryptocurrency, has introduced its Pectra testnet, marking a pivotal upgrade following its Dencun predecessor. This development is poised to influence the Ethereum price positively, potentially sparking a new bull run in the crypto market.

What is Pectra?

Pectra merges two substantial updates akin to the Dencun upgrade – Prague (execution layer) and Electra (consensus layer) – alongside several new Ethereum Improvement Proposals (EIPs).

“Pectra is coming to Ethereum testnets 🌃”
On Feb 24th, at epoch 115968, the upgrade went live on Holesky and activated on Sepolia on Mar 5. Assuming a smooth rollout, a mainnet activation date will be set. More info available below.

How Will Pectra Impact Ethereum?

Pectra’s enhancements include better scalability and user experience through significant EIPs, making Ethereum more developer-friendly and setting the stage for what could be a robust future.

Key Takeaways

• The launch of the Pectra testnet could trigger a new bull run for Ethereum.
• Ethereum prices are primed for a rebound following major updates.
• Ongoing discussions hint at future upgrades, potentially named Osaka, focusing on Verkle Trees and full Danksharding.

For further details on Ethereum’s journey and upgrades, visit here.