Trump wins US election, Bull Run!!!
That's what everyone will say and indeed Trump has now officially won as President of the United States.
The correlation?
Oh yeah!! Before we discuss further,
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Okay, let's continue discussing the momentum of the US election and its correlation with the crypto market!
One of the reasons why Trump is liked by many cryptocurrency observers is because Trump is a PRO Crypto president. In contrast to the opposition, Trump is truly “vulgar” in supporting crypto, plus Trump has teamed up with Elon Musk as an “influencer” to support him.
We also know that Elon is a person who likes meme coins like DOGE. Short conclusion: Bullish Sentiment For Crypto.
Then now we will continue the discussion of momentum in ETH itself, how is it in this bullish market?
ETH comes with its Pectra Upgrade, which will be released in 2025 for its upgrade. What is the impact of this Pectra Upgrade?
The impact of this pectra upgrade will focus on the fundamentals and use cases of ETH itself. And this upgrade is also important to have besides we need to pay attention to the technicals. Why is that?
Because with a good use-case, a coin will survive better and will be easily adopted by the community so that it does not just become a Rugpull coin. And for long-term increases, this use-case is very much needed in a coin, including ETH.
This ETH Pectra Upgrade will focus on making ETH efficient in all aspects. A little context too, SOL once “beat” ETH in terms of efficiency and ease of transfer within its ecosystem, making SOL “sexier” than ETH at the moment. Therefore, solana is appreciated by the market and if we look at it technically, it makes solana far superior to ETH.
I will try to summarize in casual language how the Pectra Upgrade system works!
The Ethereum Pectra upgrade starting in 2025 will provide:
The Ethereum network is faster, more scalable, and easier to use.
Key changes include allowing users to pay Gas Fees with various tokens, speeding up smart contracts, and increasing staking rewards for validators. So that it does not only require ETH as a Gas Fee fee.
The long-term benefits are better scalability and lower fees, with features like Verkle trees and PeerDAS supporting Ethereum's growth and usage.
From these 3 points alone, I think it is very interesting for ETH! because ETH makes itself more agile and makes it easier for its users in various aspects such as gas fees, smart contracts.
There are several features that will be available in the Pectra Upgrade:
Account Abstraction
As mentioned above, one of the drawbacks of ETH is its Gas Fee which is very expensive and users need to have ETH to pay the Gas Fee, so it is not easy to use. Currently, to pay the gas fee, you can use other coins such as USDC, DAI to pay it.
Smart Contract Efficiency
In this feature, eth will improve efficiency so that existing smart contracts can be validated more easily and quickly.
Validators Improvement
These validators are usually people who lock their eth as a form of reward for helping to validate smart contracts and they will be given interest rewards later. Currently, to provide better features, eth will implement flexible lock so that the potential profit of locked eth can be utilized as well as possible.
Now we will go to the technical aspects of ETH itself, ahead of its upgrade in 2024, what is its potential?
ETH is currently in 2 areas, namely the sideways area and the bullish area. ETH really needs to be able to make its bullish movement, so it must break the 2,789 area. If it succeeds in breaking the area, then we can wait for ETH to move bullishly with a target of up to 3000-3500. In macroeconomics, although this eth can be said to be a laggard compared to other coins, it is quite interesting to see how ETH will move.
ETH bullish, Alts Bullish.
