Ethereum developers have decided to launch the Pectra update by Q1 of next year, so what will be the price predictions for ETH in 2025?
Summary
Ethereum: the price predictions for 2025 in view of the launch of the Pectra update
Cambiamenti in vista per l’ecosistema Ethereum, che porteranno anche a nuove previsioni di prezzo per ETH per il 2025.
In practice, during a meeting of the execution layer, the Ethereum developers decided to launch the Pectra update by the first quarter of next year.
Apparently, the current news affecting the price of ETH could therefore stop at the approval of the ETF on Ethereum spot by the Securities and Exchange Commission of the USA.
Indeed, this news has already driven the price of ETH up to $3,940 yesterday. At the time of writing, ETH is worth $3,845, in a pump of +15% compared to a month ago.
Not only that, with this approval, the SEC of the USA would have also confirmed that Ethereum is not a security and that, therefore, it is legitimized to soar in the bull market.
“`htmlPersino il CEO di Binance, Richard Teng, si è voluto sbilanciare commentando tale evento come una milestone for the entire crypto sector che sta ottenendo sempre più una growing acceptance within traditional frameworks.
“`Ethereum: what is the Pectra update?
The new Pectra update will be implemented between the end of 2024 and the beginning of 2025, introducing exclusive features within EVM wallets.
Nello specifico, l’aggiornamento include l’Ethereum Virtual Machine Object Format (EOF), che presenta 11 proposte di miglioramento volte a potenziare il codice EVM.
Among the various novelties, Pectra will introduce the ability to delegate functions to smart contracts directly from the crypto wallet, approve transactions in batch, and pay for gas with different ERC20 tokens.
Not only, Pectra will integrate the EIP-7251, the proposal that aims to increase the staking limit for validators by 64 times, going from the canonical 32 ETH to 2,048 ETH.
The new proposal by Vitalik Buterin, the EIP-7702, will then introduce a new type of transaction that will allow Ethereum account addresses to temporarily function as smart contract wallets during a transaction, then restoring their original state.
ETH price predictions for 2025
Analysts at work: it is time to consider in the various price forecasts for Ethereum for 2025, also the introduction of the Petra update.
At the moment, the three hypotheses for the current bull run of Ethereum, and therefore short-term forecasts for ETH are:
- ETH supera i 4.000$;
- ETH above $4,100, shifting the target to $5,000;
- ETH could reach $6,600.
In the long term, however, some predictions see the price of ETH reaching $5,000 by the end of 2024, while in 2025, ETH should reach the maximum level of $6,500. It should be specified, however, that such predictions do not mention the new Pectra update.
