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The crypto landscape is witnessing a strategic shift as the new Pectra upgrade on Ethereum helps the network’s native $ETH outpace Bitcoin ($BTC), igniting fresh buzz about a utility-focused altcoin revival.
Social media analyst Crypto Rover spotlighted ETH’s surge in a tweet today, noting its stronger momentum on BTC. As of Monday, ETH had climbed 0.7% over 24 hours and 39% over the week to trade above $2,500. Bitcoin meanwhile lagged behind with a 1.4% intraday dip and a 9.7% intraweek rise to $102,900, per CoinGecko.
Much of this excitement is likely down to Ethereum’s “Petra” upgrade last Wednesday. The most significant update since the Merge, Petra raises the maximum stake to 2,058 ETH while enhancing wallet efficiency, user experience and Layer 2 functionality.
Ethereum Pectra Upgrade Signals Bullish Network and Boosts Several Altcoins
Ethereum’s daily transactions soared to 1.2 million on May 11, according to Etherscan, highlighting growing user activity. Meanwhile, broader risk-on sentiment echoed in traditional markets, with the S&P 500 up 2.47%, and likely to close above $5,800.
ETH’s momentum may in part signal increased appetite for DeFi and scaling tokens. Ethereum-based assets like UNI and AAVE followed suit, posting gains of 3.8% and 4.1%, respectively, by noon UTC, according to data by CoinMarketCap.
Spot trading volumes further validated the trend—ETH volumes surged $28.4 billion, while BTC, which is more than six times the market cap, moved $35.6 billion. Grayscale’s Ethereum Trust also attracted $45 million in inflows on May 10, highlighting institutional interest.
Technical indicators paint a bullish picture. As of 2:00 PM UTC, ETH broke above its 50-day moving average at $3,050. The RSI is 53 and falling, suggesting plenty of upward room before hitting overbought conditions. Meanwhile, total value locked (TVL) across Ethereum DeFi protocols rose to $62.84 billion—a 20% boost on last week—according to DefiLlama.
Tech stocks like NVIDIA (+4.34%) and the Nasdaq Composite (+3.49%) are also signaling a broader shift into risk assets.
All eyes are on ETH as altcoin season gains traction. Investors and traders may find compelling opportunities across the Ethereum ecosystem—so long as equity markets and the news cycle remain favorable.
As Ethereum Upgrades Reveal Security Concerns, Investors Pile Into Best Wallet
While Ethereum’s upgrade was roundly celebrated across the market, reports emerged that it introduces a new potentially troubling exploit that lets attackers drain wallets.
Over in the presales market right now, one project that offers security and profitability is quietly taking in millions. The ICO is for the $BEST native utility token powering leading next-gen crypto wallet Best Wallet, a rival to Trust Wallet and MetaMask.
One of the key feaures of Best Wallet is its “Upcoming Tokens” tool, which selects the most promising crypto projects, often while still at presale, enabling users to make moves before everyone else.
Additionally, it aggregates the most rewarding staking opportunities to help users generate the most value out of their portfolios.
The Best Wallet app is on Google Play and the Apple Store and currently supports over 1,000 cryptocurrencies. It leverages Fireblocks’ MPC-CMP encryption to keep users’ assets secure.
