$103213.489089 USD

-0.87%

ethereum

$2478.060347 USD

-3.73%

tether

$1.000294 USD

0.01%

xrp

$2.340442 USD

-2.38%

bnb

$639.902968 USD

-2.76%

solana

$165.573535 USD

-3.90%

usd-coin

$0.999833 USD

-0.01%

dogecoin

$0.215521 USD

-4.54%

cardano

$0.740663 USD

-4.91%

tron

$0.268205 USD

-2.54%

sui

$3.701769 USD

-5.37%

chainlink

$15.311254 USD

-5.63%

avalanche

$22.461779 USD

-5.77%

hyperliquid

$26.959403 USD

0.04%

stellar

$0.287254 USD

-2.77%

Cryptocurrency News Articles

Over 25,000 Wallets Upgrade to EIP-7702 as ETH Jumps 20% and Dubai Partners for Government Crypto Payments

May 16, 2025 at 08:05 pm

Following the recent launch of the Ethereum Improvement Proposal 7702 (EIP-7702) known as the Pectra upgrade, there has been a marked increase in smart wallet adoption across multiple blockchain networks.

The Ethereum Improvement Proposal 7702 (EIP-7702), also known as the Pectra upgrade, has seen significant adoption in recent times, with over 25,000 smart wallets across various blockchain networks upgrading to the new standard.

The Pectra upgrade, which enables efficient smart account management, has seen 13,013 smart accounts upgrade on Ethereum, 5,588 on Optimism (OP) Mainnet, 5,261 on Binance Smart Chain (BSC), 2,851 on Base, and 229 on Gnosis. In the past week alone, over 11,000 EIP-7702 authorizations were reported on Ethereum.

Moreover, shortly after the Pectra upgrade, a notable surge in volume was observed, with over 4,700 EIP-7702 transactions recorded. This coincided with a 20% increase in the price of Ether (ETH) from $1,500 to $1,800.

In other developments, Dubai has partnered with an undisclosed entity to introduce an integration for government crypto payments. This partnership signifies the growing interest and adoption of cryptocurrencies at the institutional level.

Among the upgraded smart accounts, a significant portion belongs to major crypto exchange and wallet providers. These include 6,900 smart accounts from WhiteBit, 4,800 from MetaMask, 4,000 using an unidentified implementation, and 3,400 linked to OKX.

This analysis is generated by Artificial Intelligence and brought to you by DeepNewz, curated by The Defiant. For more information, including original articles and sources, please visit DeepNewz.

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