The Ethereum developers have launched the Mekong testnet for testing crucial changes for the upcoming Pectra upgrade which is expected to rollout on Ethereum mainnet in the first half of 2025.
This temporary test network enables initial experiments with new code changes before such modifications are moved to the public testnets, including Sepolia, and further to the mainnet.
In a recent blog post, Mekong has been described as a “playground” by Ethereum’s core developers. It is for both the wallet developers and stakers as they can test and experiment Pectra’s recommended features.
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All EIP’s for Pectra to be included as part of the upgrade are now committed to the Mekong branch. This has been marked as the complete version of the upgrade.
Mekong, as of now, is the final architecture of Pectra and the minor changes in specification or small EIPs may still be introduced before starting the testing phase of the mainnet release.
Pectra’s Key Features Aim to Improve User Experience and Network Efficiency
At first, there were plans for Pectra upgrade to include 20 EIPs, though the current count stands at eight. These changes are made to enhance the experience of Ethereum users and optimize the functioning of the network.
Among the most important changes is the growth of the maximum stake that validators can use – from 32 ETH to 2,048 ETH, which is aimed at attracting large stakers and institutional investors.
New improvements to deposit and exit functions are also being considered. This is to make staking more efficient and improve the network’s security and user experience.
Mekong allows wallet developers to experiment with the user experience improvements with respect to Pectra goals. These changes are expected to enhance the wallet experience. This would make Ethereum more appealing to direct users and institutional market players.
By the time the upgrade gets to the mainnet, these readjustments might help the users have a more effective and easy-to-use experience within Ethereum.
Trump’s Pro-Crypto Win Fuels Market Optimism and ETH Price Rally
Ethereum has been on the rise in the past few days due to positive market sentiment after Donald Trump won the U.S. presidential election.
This has led to a general resurgence of the cryptocurrency market, with Ether’s price increasing by approximately 16% in the past week. ETH price stood at about $2,880, and that was a 10.4% rise in the last 24 hours.
The rally is mainly attributed to the anticipation of positive policy shifts since Trump has expressed his support for the cryptocurrency friendly policies. As per the data from Arkham Intelligence, Trump has 495,279 ETH, which is worth around $1.41 million, hence boosting investor confidence.
Analysts Target $3,600 for ETH Amid Positive Technical Indicators
From a technical point of view, Ethereum’s price has left an ascending triangle pattern, which is considered to be positive. Ether’s recent price surge above its 200-day Exponential Moving Average at $2,760 is an upward trend signal. At the moment, ETH could rise to $3,600 if the current situation persists, according to analysts.
Market analyst EthereanVibin has pointed out that ETH could “easily double” in the scenario. The sentiment remains undoubtedly positive due to the Trump administration.
Crypto trader Byzantine General echoed this optimism, saying that the asset could be looking at a “monster rally.” Some traders argue that Ethereum is still undervalued as it nears the $2,900 level. More gains could be on the horizon.
With the Pectra upgrade, institutional support, and a favorable regulatory outlook, Ethereum appears well-positioned for growth. Analysts see $3,600 as a realistic target, driven by both technical signals and market optimism.
