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Avalanche Unveils Timeline for Major Upgrade to Go Live
The market has seen a significant increase in the value of AVAX as the crypto community looks forward to the upcoming Ethereum Pectra upgrade, which is expected to have a profound impact on the Avalanche network. Market volume climbed by 28.59% to $1.52 billion.
In an earlier trading session, AVAX plummeted drastically after reaching $55.07 before recovering significantly. The market has witnessed a surge in anticipation as users expect the upgrade to act as a catalyst for price growth.
The upgrade is expected to be implemented on Monday, and members of the community are hopeful that it will result in prices climbing to new heights. This sentiment draws parallels with an earlier event when AVAX jumped 15% following a network upgrade in February 2023.
The Ethereum Pectra upgrade aims to optimize performance, improve scalability, and provide enhanced security measures to ensure the sustainability of the Avalanche network.
As of now, it seems unlikely that this expectation will be met.
Source: u.today
