The market capitalization of ether increased by 42%in its major network in five days after successful introduction of the Pectra upgrade of Ethereum.
On May 12, the corporate data tracker showed 8 Marketcap Ether (Eth), which exceeded Coca-Cola and Alibaba, which received the Thirty ninth-minute asset on this planet after market capitalization. At the time of publication, ETH was about $ 2,550, with market capitalization of greater than 308 billion US dollars.
In comparison, Coca-Cola shares deals with around $ 70, which leads to a market capitalization of $ 303.5 billion. Alibaba's shares take care of a market capitalization of $ 303.7 billion.
The most up-to-date price campaign of ETH corresponds to a network upgrade that improved the storage of layer 2 scaling data, validator user experience and smart account wallet user experience.
Ether exceeds Coca-Cola and Alibaba in market capitalization. Source: 8 Marketcap
Ethereum implemented the PECTRA upgrade on the Mainset
Pectra was originally planned for March 2025 and had delays after the tests had resulted in technical challenges.
On February 24, the upgrade on the Holeum testnet from Ethereum was provided. After the availability, the upgrade within the network couldn’t be accomplished, which caused the developers to look at and tackle the issues. On March 5, PECTRA was introduced to the Sepolia Testnet, however the developers met with mistakes attributable to an attacker attributable to an attacker attributable to the mining of empty blocks.
In order to proceed to arrange for the availability, Ethereum Core developers created a brand new testnet called “Hoodi” before the upgrade finally provided the upgrade to the Mainnet on May seventh.
With the upgrade, external accounts (EOAS) can act as intelligent contracts to cover gas fees and payments using ETH token. In addition, Validator stuck borders were increased from 32 ETH to 2,048 ETH, which simplified the operations for giant stakers. The upgrade also increased the number of knowledge blobs per block and enabled higher scalability for Layer-2 networks.
The price of the ETH has escalated for the reason that upgrade. On May 7, in keeping with Coingecko Ether, around $ 1,786 was traded. On May 12, Ether ran as much as 2,550 US dollars, which corresponds to a rise in value of 42%.
Security experts warn of risks after the PECTRA upgrade
Nevertheless, the upgrade introduced security risks. After the upgrade, cyber security experts warned that attackers could make the most of a brand new transaction type to regulate EOAS without users signing onchain transactions.
Solidity Smart Contract Auditor Arda Usman warned beforehand in comments on CoinTelegraph that these weak points could enable attackers to offer money through offchain -signed messages.
