Ethereum Hit $4,834 because Pectra Upgrade and Derivative Surge
Ethereum price climb reach $4,834 for past 24 hours as institutions cash dey enter and derivatives market dey active, which dey push buying pressure. Di new Pectra upgrade make network fit handle more transactions and reduce gas fees, e make DeFi and Layer-2 level pass increase without fee spike. At di same time, open interest and futures trade volume rise, meaning more leverage and liquidity dey now. After di upgrade, on-chain metrics show more transactions per second and lower average gas fees, e boost confidence for big wallets. But di high leverage fit cause wahala: if price break below $4,150 support, correction fit happen go $3,900. Traders suppose dey monitor open interest, funding rates, and on-chain signs well to avoid quick market reversals.
Bullish
Di waka network upgrade wen good and sharp rise for derivatives open interest dey mirror past bullish times—like London hard fork for 2021—wey protocol improvements dey boost renewed institutional confidence. High futures volumes and open interest usually attract arbitrage desks and market makers, wey dey enlarge direction moves. For short term, this setup dey support continue upside momentum, but high leverage fit cause quick corrections if funding rates turn unfavorable. For long term, better scalability from Pectra fit support wider adoption and DeFi growth on Ethereum, keep bullish outlook if macro conditions remain supportive.