Do I even need to mention that the Fed left rates unchanged last week?
Quite a lot has happened since then, though.
Here’s a roundup of what you might have missed.
ETH wakes up, with a taste of a real bull run
If you keep even half an eye on crypto prices, you’ve probably seen that ETH gained 50% in a week.
Even I struggled to believe it...
Why the rally?
Has Vitalik discovered time travel?
No.
The real trigger was Ethereum’s Pectra upgrade, activated on Wednesday 7 May 2025.
Without getting too technical, here’s what you need to know:
- The staking limit has increased
- ETH is becoming scarcer: more tokens are being burned than created
It’s not a technical revolution. But combined with rising prices, developers returning and renewed investor interest, it’s creating real hype.
Speaking of investors, they were just waiting for a signal to come back to ETH, which, let’s remember, had been pretty quiet until now.
Things are moving in the US, and elsewhere
Over the past few days, announcements have been coming thick and fast, all pointing in the same direction: reassuring investors.
- An agreement between Donald Trump and China to suspend or reduce some tariffs for 90 days
- An executive order to lower drug prices in the US by matching the lowest prices internationally. It’s primarily political, but it sends a positive signal
- And, most recently, an economic agreement with Saudi Arabia: $600 billion in announced investment in energy, AI, defence and infrastructure
It’s easy to conclude that the market was just waiting for an excuse to move higher.
But we’ll need to stay alert, because the tariff increases could still have a delayed impact.
Personally, I’m optimistic. But we’re not yet clear of news that could plunge us back into the fear of the past two months.
Source: CoinMarketCap