Ethereum Reaches New All-Time High as Pectra Burns 38,000 ETH

Ethereum has hit a new all-time high, exceeding $2,400 after the Pectra upgrade led to a significant reduction in its circulating supply. With over 38,000 ETH burned in a single day, Ethereum is experiencing deflationary conditions once again, driving investor optimism and pushing the price up significantly. This article delves into the impact of the Pectra upgrade on Ethereum’s value, market sentiment, and future potential.