Rally to 15k $ Imminent? How Pectra Upgrade Enables Bullish Ethereum Price Prediction – Ethereum News Today

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/PlutoChain/ – The Pectra Upgrade promises to tackle ETH’s biggest challenges — high gas fees and network congestion.

As Ethereum trades at around the $3,400 level, the market is watching for signs of a breakout.

Meanwhile, a new Layer-2 project called PlutoChain ($PLUTO) could redefine Bitcoin with smart contracts and new use cases. More than 2 million tokens have been sold in PlutoChain’s presale, sparking interest.

Let’s explore what’s happening with both Ethereum and PlutoChain.

Can the Pectra Upgrade Fuel Ethereum’s Rally to $15K? Here’s What the Technical Data Says

As of December 30, 2024, Ethereum is trading at approximately $3,411.37, with a market cap of approximately $411 billion.

ETH faces a significant resistance level at $3,500. On the support side, key levels to monitor include $3,250 and $3,200. The RSI is currently at 53.

The Pectra Upgrade addresses some of Ethereum’s biggest challenges, including high gas fees and slow transaction speeds.

By streamlining data handling and reducing congestion, it makes the network faster and more efficient.

These changes improve the experience for users and developers while attracting more institutional interest.

A key feature of the upgrade is better support for Layer-2 solutions, which allows Ethereum to process transactions faster and more cheaply. This makes Ethereum an even better choice for decentralized applications (dApps) and DeFi projects.

In December, Ethereum recorded a DEX trading volume of $84.168 billion, which marked an increase from November’s $70.635 billion.

However, this figure remained lower than Solana’s $107.865 billion and Binance Smart Chain’s $91.444 billion during the same period.

Alan Santana predicts Ethereum will reach $15,300 by 2024-2025. He highlights Ethereum’s potential for long-term growth, likely based on technical patterns and its evolving role in the crypto ecosystem.

PlutoChain ($PLUTO) Is a Robust Layer-2 Solution That Could Transform Bitcoin and Add Smart Contracts to the Main Network

Bitcoin often struggles with network congestion, slow transaction speeds, and high fees. PlutoChain ($PLUTO) offers a hybrid Layer-2 solution that could address these issues and potentially enhance Bitcoin’s functionality.

PlutoChain plans to build a parallel network above Bitcoin’s main blockchain. This approach could reduce traffic on the mainnet and lower transaction costs.

Bitcoin’s 10-minute block time has remained a major drawback, especially when compared to faster blockchains like Ethereum, Solana, and Cardano.

PlutoChain introduces its own Bitcoin Layer-2 blockchain with a swift 2-second block time, enabling smart contracts to operate efficiently. This innovative approach preserves Bitcoin’s trusted 10-minute block time for the main blockchain while potentially offering scalability and flexibility on its Layer-2 network.

This shift could redefine Bitcoin’s role and transform it from a store of value into a versatile platform for blockchain innovation.

PlutoChain is compatible with Ethereum Virtual Machine (EVM), which could enable developers to move their Ethereum projects to Bitcoin with ease.

This could result in new opportunities for DeFi applications, NFTs, and AI-driven projects within the Bitcoin ecosystem.

The PlutoChain testnet has already processed over 43,000 daily transactions, which proves its ability to scale and handle real-world demands without delays.

To guarantee maximum security, the project underwent independent audits conducted by SolidProof, QuillAudits, and Assure DeFi.

These audits verified the safety of its smart contracts and network infrastructure.

PlutoChain also follows strict internal protocols, such as regular code reviews and stress testing, to identify and prevent potential vulnerabilities.

The platform also includes a governance feature that allows users to vote on updates, partnerships, and new features.

The Bottom Line

While Ethereum’s DEX volume of $84.168 billion trails behind competitors, the Pectra Upgrade could be a major feature in addressing its core challenges of high gas fees and network congestion.

At the same time, PlutoChain ($PLUTO) could be a significant innovation in the Bitcoin ecosystem, with a Layer-2 solution that enables 2-second block time.

It’s important to note that participating in presales carries risks, including market volatility and potential project delays. Please conduct thorough research, understand the risks of market volatility, and seek professional advice before engaging with any blockchain project. Future-oriented statements are speculative and may not be modified.

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