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ETH is Pumping: Market Update for $ETH Hey everyone! Ethereum is on the move again, showing strong bullish momentum today. Let’s dive into the latest on ETH: Current Price & Performance Price: 2,298.33 USD 24h Change: +56.34 (+2.51%) Sentiment: Bullish ETH has surged over 2.51% in the last 24 hours, breaking past key resistance levels. The price is currently trading near 2,298.33, and the momentum is clearly bullish. Key Levels to Watch Support Levels: 2,236.87: Nearest support level, where buyers have stepped in recently. 2,049.57: Stronger support zone, crucial for maintaining the current structure. Resistance Levels: 2,320.75: Immediate resistance level. A break above this could signal further upside. 2,498.66: Next resistance to watch if the price continues to climb. 2,947.76: A longer-term resistance target if the bullish momentum sustains. Market Analysis ETH is currently in a bullish phase, trading near 2,298.33 after a strong upward move. The price is holding well above key support levels, and the volume is increasing, confirming the strength of the rally. The recent pump in Ethereum is likely driven by positive developments in the ecosystem, including the successful implementation of the Dencun upgrade, which has improved Layer-2 scalability and reduced transaction costs. Trade Setup If you’re considering a trade, here’s a potential plan: Entry: Look for a pullback to 2,236.87 or a break above 2,320.75 for a better risk-reward setup. Stop-Loss: Place it just below 2,049.57 to protect against any downside risks. Take-Profit: Target 2,320.75 initially. If the price breaks above that, consider holding for 2,498.66 or even 2,947.76 in the longer term. Final Thoughts ETH is pumping, and the bullish momentum is strong. However, always stay cautious and watch key levels for confirmation before entering any trades. Manage your risk carefully and plan your moves wisely. What’s your take on ETH? Are you bullish, or do you think it’s due for a pullback? Let me know your thoughts in the comments!

China Asset Management Hong Kong (China AMC HK) launched its Digital Money Market Fund on February 28. The fund, built on the Ethereum network, combines blockchain technology with traditional finance and is the first of its kind in the Asia Pacific region. The fund has been approved by Hong Kong’s Securities and Futures Commission (SFC). It aims to allow people to access money markets through a blockchain, and this is because Hong Kong is trying to establish itself as a blockchain hub for innovation. China Asset Management is one of China’s largest fund management companies, with over RMB 2.58 trillion in assets ( December 31, 2024). China AMC is the parent company of China AMC HK. It is also worth noting that Chinese companies with the title “China” are often approved by the government, offering an extra layer of security. “This milestone is a key step”, said Gan Tian, CEO of China AMC, “in our strategy toward Web 3, with tokenization being a critical focus. Tokenized funds offer revolutionary advantages, such as blockchain-based title issuance and transparent settlement”. Tian stressed the importance of tokenized securities, pointing out that they have the ability to transform traditional markets, providing better access to what would otherwise be restricted to a few institutional investors. According to Tian, the launch of the Digital Currency Fund showcases how blockchains can be used to improve traditional markets. Unlike traditional bank deposits, money market funds offer higher yields, short-term trading, and relatively safe investments. A tokenized version of these markets improves upon these benefits, adding faster settlement times and lower investment thresholds. Ethereum tokenized funds allow China AMC to embed interest-bearing tools on the blockchain, providing retail investors with more accessible income streams and offering traditional investors new advantages of blockchain trading. The funds use fractional ownership to lower the investment threshold. “By bridging traditional finance and decentralized finance”, said Tian Gan, “the product is part of China AMC (Hong Kong)’s commitment to innovation and align with broader industry trends toward tokenization. By harnessing blockchain technology, we not only provide an innovative and compliant investment solution but also equip investors with a future-ready platform for the next generation of financial products”. With the approval by the Securities and Futures Commission (SFC), the blockchain community has more access to investment opportunities. Access to the fund includes other benefits of blockchain, including publicly verified, scalable, and secure transactions. The fund also offers diversified investments to retail consumers, but with scalable settlement capabilities. The parent company of China AMC HK, China AMC, has greater ambitions for the blockchain community. It aims to create more funds in America and Brazil, develop a global presence, and further draw investors back to China. Mary Huen, CEO of Standard Chartered in Hong Kong, said she is happy to help China AMC HK provide an innovative product to clients because it allows retailers to make money from blockchain technology and further establish Hong Kong as a blockchain hub. Hong Kong authorities have been actively seeking new blockchain technologies to attract global investment and to make markets more liquid. Christopher Hui, Financial Services Secretary Hong Kong, said tokenization was a key component in enhancing traditional finance and bringing Hong Kong to the forefront of web3 technology.

The post Developers Implement Crucial Fix After Ethereum’s Pectra Upgrade Faced Issues on Sepolia Testnet appeared first on Coinpedia Fintech News Ethereum’s planned Pectra upgrade, the blockchain’s most significant update since 2022’s “The Merge,” launched today on the Sepolia testnet. However, the launch didn’t go smooth as it faced issues in its testnet release, further delaying mainnet launch. According to a recent tweet from the lead Ethereum developer, the team has identified the issue and rolled out a fix. Quick Fix Applied to Sepolia Deposit Contract Issue The Ethereum community employs testnets to experiment with significant updates in a secure environment before they are implemented on the primary blockchain, often referred to as the “mainnet.” Despite these precautions, the rollout encountered some snags. Tim Beiko, a leading developer at the Ethereum Foundation, reported on Twitter that they were addressing a glitch related to the custom deposit contract on the Sepolia testnet. Also read: Ethereum’s Pectra Upgrade Moves Forward – But Is It Ready for Mainnet? He further explained that this glitch had impacted certain Execution Layer (EL) clients, leading to problems with processing transactions within blocks. EL clients are essential software that operates on the Ethereum network’s nodes. Roughly six hours after the error was identified, Tim Beiko reported that a solution was in place. He stated, “Client teams have coordinated on a fix and are trying to deploy it to validators right now. If this works as expected, we’ll have a longer update out shortly.” Tim Beiko stated that all node operators need to upgrade their nodes to the versions listed on the Ethereum website’s blog. He mentioned that validators had already upgraded, resulting in the chain operating normally again. However, he noted that explorers, wallets, and other infrastructure providers might encounter issues until they also perform their upgrades. The Mainnet Release Might Get Delayed Earlier in the day, the launch was hailed as a triumphant success. Terence, a leading Ethereum developer, shared on Twitter that the Pectra had “finalized with a perfect proposal rate” on the Sepolia testnet. This meant that every validator had flawlessly proposed their assigned blocks without fail. However, this achievement came after a challenging period. Initially, the deployment of Pectra on Sepolia had caused significant disruptions, preventing transactions from being recorded and essentially bringing the testnet to a halt for around five hours. The Pectra upgrade had encountered problems before. For example, a misconfiguration among validators caused a chain split during its deployment on the Holesky testnet on February 24, leading to a failed rollout. Ethereum developers now expect that it will take at least two more weeks to finalize this activation. Read more: Ethereum Whale Dumps $89M ETH – More Selling Ahead? The plans for a mainnet launch of Pectra, which is one of the most significant forks since Ethereum transitioned to proof-of-stake, are dependent on successful upgrades of both the Holesky and Sepolia testnets. Although the Ethereum Foundation had initially aimed for an early April release for the mainnet, this timeline might be stretched to ensure the issues observed in the testnets are thoroughly addressed and do not recur.

Analysis: Ethereum Pectra upgrade could boost $ETH in the long run The upcoming Pectra upgrade to the Ethereum mainnet in April could be bullish for ETH in the long run, crypto market intelligence platform IntoTheBlock reported via X. Despite this, it underscores that based on the previous two upgrades, network upgrades alone will not generally determine broader market trends. The Pectra upgrade encompasses a total of 10 Ethereum Improvement Proposals (EIPs), among which the EIP-7742 is able to establish a mechanism for the Ethereum consensus layer to “dynamically” set the blob gas target and max values. In addition, the Pectra upgrade has recently been activated on the Ethereum Sepolia testnet.

Ethereum price surged 6% in the past 24 hours, reclaiming the $2,300 level despite weakening decentralized finance metrics. According to data from Defi Llama, in February, Ethereum’s ( ETH ) total value locked fell to $50 billion from a peak of $71 billion in January. Additionally, decentralized exchange volumes have been declining as capital flows into alternate ecosystems such as layer 2s and Solana ( SOL ). DEX volume fell from $92 billion in December to $82 billion in February, a 11% decline. Ethereum network fees, on the other hand, have decreased from $142 million in January to barely $46 million in February, indicating a decline in demand. The upcoming Pectra upgrade , which is expected to enhance network functionality and fee efficiency, might be a short-term catalyst. However, it is still unclear if these upgrades will be enough to stop the decline in DeFi activity. Furthermore, technical issues or delays could slow down the momentum and maintain ETH within its current range. On the technical side, Ethereum is still trading below the $2,846 critical resistance. A squeeze in the Bollinger Bands suggests a possible breakout. The relative strength index at 41.40 indicates modest momentum, although bullish strength might be confirmed by a move above 50. Despite the price uptick, low trading volume suggests hesitation among buyers. ETH needs a strong push past resistance to sustain gains, or it risks another pullback. A decisive break above $2,846 may open the path to $2,946, while failure to hold current levels could lead to a retest of $2,200 support. Meanwhile, sentiment remains mixed ahead of the White House Crypto Summit on Mar. 7. Recently, U.S. President Donald Trump proposed the formation of a national crypto strategic reserve , with Ethereum being among the cryptocurrencies. Although some see this as a sign of a possible reversal, analysts caution that if enough regulatory clarification is not reached, the summit may become a “sell-the-news” event and lead to further downturns.