Ethereum Pumps On Pectra Upgrade, Buying Intensifies For New ETH Token Set To Rival XRP

The crypto market is heating up as we enter the second half of 2024, and two projects are catching investors' attention: Ethereum, fresh off a new upgrade, and Remittix, a promising new token in presale.

Pectra upgrade brings new capabilities to Ethereum

The world's second-largest cryptocurrency, Ethereum, has just received a significant upgrade with the launch of Pectra on May 7. This latest iteration of the blockchain brings 11 new Ethereum Improvement Proposals (EIPs), focusing on enhancing smart contracts, simplifying staking, and increasing the network's speed and efficiency.

Among the notable changes is EIP-7702, which grants wallets more capabilities, transforming them into rudimentary smart contracts. This addition allows users to combine several actions into a single transaction, employ session keys for seamless dApp interactions, and pay fees using tokens other than ETH.

Furthermore, Pectra introduces an elevation of the max cap for validator deposits from 32 to 2,048 ETH. This adjustment is set to simplify operations for major market players who can now manage a smaller number of larger validator nodes, facilitating greater efficiency in scaling and pooling liquidity.

In terms of speed and cost optimization, Ethereum will now support a greater number of "data blobs" per block with the implementation of EIP-7014. This modification is intended to enhance the performance of layer-2 networks, such as Arbitrum and Optimism, enabling them to handle a larger volume of traffic while keeping transaction fees low.

As the dust settles on the Pectra upgrade, traders are showing signs of returning to the market. In the 24 hours following the release, ETH experienced an increase of over 5%, breaking through a defined range to reach a higher high. This development could be a sign of a new bullish leg for the world's second-most valuable cryptocurrency.

However, it's worth noting that the cryptocurrency has been following a downtrend since December, which might be coming to an end.

Remittix rolls out crypto-to-fiat functionality

While the spotlight is on Ethereum's Pectra update, another interesting project is stealthily making waves in the crypto sphere. Remittix is a real-world utility token built on Ethereum, designed to simplify and streamline global transactions.

The project is highlighting the fact that its token can be used to convert over 40 cryptocurrencies into fiat and send the funds directly to a global bank account. There are no middlemen and no surprise FX fees; just flat fees, transparent pricing, and full control. The recipient doesn't even need to know it came from crypto.

Moreover, Remittix provides valuable tools for businesses. Its Pay API enables merchants to accept crypto and settle directly in fiat, supporting over 30 fiat currencies and 50+ crypto pairs. This offers businesses the flexibility to accept cryptocurrencies without the usual hurdles.

With its user-friendly interface, high-yield opportunities, and focus on accessibility, Remittix seems to be positioning itself to steal some of XRP's thunder. Both projects are targeting the same cross-border payments space, a market expected to be worth over $250 trillion by 2027.

But while XRP focuses on blockchain technology and interoperability, Remittix is emphasizing the simplicity and convenience of its service for the average user.

Investors appear to be interested in this approach. Remittix has raised nearly $15 million in presale and is quickly approaching the final stage. The token is priced at $0.0757 and there’s still a $250k competition live for anyone who wants to win some RTX tokens.

The recent changes to Ethereum with the Pectra upgrade might also be good news for Remittix. The new additions to the network, like batching transactions, paying in tokens other than ETH, and a cleaner dApp experience, are all tailor-made for services like Remittix that aim to accelerate frictionless crypto payment adoption.

As Pectra rolls out and more users join the network, we might see even more use cases for Remittix, especially for presale backers.

Visit Remittix's presale here: https://remittix.io/

Socials: https://linktr.ee/remittix

This content is sponsored and does not necessarily reflect the opinions of CaptainAltcoin and may not be accurate. Exercise caution and do your own research before making any investment decisions.