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On the morning of 8 May the price rose above<\/a> $99,000. The driver was US President Donald Trump\u2019s promises to enact \u201cthe biggest tax cut\u201d and strike a \u201cmajor trade deal\u201d.<\/p>\n Bitcoin\u2019s realised capitalisation reached<\/a> a record $890.74bn, signalling potential for further gains.<\/p>\n During the day bitcoin again cleared<\/a> $100,000\u2014the level seen in early February. The impulsive rise came with a surge in trading volumes.<\/p>\n On 9 May the price hit $103,700 before momentum faded. In the small hours of 11 May it notched a local high above $104,600.<\/p>\n At the time of writing bitcoin trades at $103,784, up 8.2% on the week.<\/p>\n For Ethereum the week began around $1,800. For the first three days the price did not exceed $1,900.<\/p>\n On 8 May, amid broader market excitement and the launch of the Pectra upgrade, the chart turned higher. In a day the price rose<\/a> 18.8% to above $2,300.<\/p>\n Ethereum outpaced bitcoin and other major cryptoassets on the day. The trader known as Daan Crypto Trades called<\/a> the asset\u2019s daily candle \u201cabsolutely insane\u201d.<\/p>\n Nick Foster, founder of the Derive protocol, said the move was driven by several factors, not just Pectra. He pointed to events favourable to digital assets such as a US\u2013UK trade agreement and Coinbase\u2019s purchase of the Deribit options platform for $2.9bn<\/a>.<\/p>\n In the night of 11 May the price hit a local high of $2,564 before turning lower.<\/p>\n At the time of writing Ethereum trades at $2,481, up more than 35% on the week.<\/p>\n During the week the fear-and-greed index reached 73 but eased to 70 by the weekend.<\/p>\n Over the past seven days all top\u201110 assets by market capitalisation posted gains.<\/p>\n The biggest risers were DOGE (+32.5%), SOL (+18.5%) and ADA (+15.9%).<\/p>\n Total crypto market capitalisation rose 13.2% to $3.494tn.<\/p>\n The Pectra<\/a> upgrade\u2014the largest in Ethereum by number of proposals\u2014was activated<\/a> on mainnet at epoch 364,032.<\/p>\n Pectra is live on Ethereum mainnet!<\/p>\n \u2014 Smart account wallet UX features now active Community members will continue to monitor for any issues over the next 24 hours.<\/p>\n \u2014 Ethereum.org (@ethereum) May 7, 2025<\/a><\/p><\/blockquote>\n Ethereum rolls out the Pectra upgrade<\/h2>\n
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\u2014 L2 scaling data storage blobs increased by 2x
\u2014 Validator UX improvements live<\/p>\n
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