Ethereum’s successful recent Pectra upgrade has triggered a massive boomerang in authorization activity. Only one week later, the new network saw its first action with over 11,000 EIP-7702 authorizations processed! This remarkable increase is a testament to the rising enthusiasm and participation in Ethereum’s dynamic ecosystem. As of Friday, Ethereum is maintaining levels well above $2,500. This is an incredible almost 100% jump since its bottom in early April.
The Pectra upgrade aims to enhance Ethereum’s functionality and scalability, contributing to the network’s overall performance. The steady growth in EIP-7702 authorizations shows that developers are eagerly adopting new features and improvements made possible by the upgrade. This engagement might be a sign of something bigger. Ethereum is proving the confidence in it to grow and develop amid fierce competition in the booming blockchain space.
On the broader financial front, the EUR/USD exchange rate struggles to find direction, fluctuating within a narrow range around 1.1200. As traders continue to process economic indicators and geopolitical developments that are likely to shape currency movements, the market is still on edge. At the same time, GBP/USD has dropped under 1.3300 with a mild USD recovery weighing slightly on risk-sensitive currencies. Throughout the second half of Friday, the currency pair moved into negative territory. The steep drop reflects the market’s jitters and the squeeze from external forces.
In commodities, gold prices could not hold on to gains from Thursday’s rally, plunging beneath $3,200. The precious metal’s powerful uptrend has suddenly reversed south and now trades well into the negative, showcasing the violent swings across the gold and silver markets. Investors have their eyes peeled on every economic data release and global occurrence that could affect gold’s price action in the next few days.
“Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you’re a beginner or an expert, find the right partner to navigate the dynamic Forex market.”