
Jakarta, Pintu News – The latest update to the Ethereum network, known as Pectra, has had a significant impact on the flow of capital into the cryptocurrency. Analysis of on-chain data shows a marked increase in Ethereum’s Realization Cap, indicating increased confidence and investment from market participants.
Ethereum’s Realized Cap recently reached $244.6 billion, signaling an influx of capital into the asset. The Realization Cap is an on-chain capitalization model that calculates the total value of Ethereum assuming that the ‘real’ value of each circulating token is equal to the last price of a transaction on the blockchain.
Ever since the Pectra update was activated on May 7, there has been a changing trend in the Realization Stamp of this cryptocurrency. The update brought an increase in staking and transaction capacity, which seems to have sparked investors’ interest in investing their capital into Ethereum.
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On the day of the update, the Realized Cap stood at $240.8 billion. Within a few days after that, the figure increased to $244.6 billion, indicating that about $3.8 billion had flowed into Ethereum (ETH).
This increase is equivalent to 1.6% of its previous value. Alongside this capital flow, the price of Ethereum has also seen a significant spike, from $1,800 to $2,500 currently. However, despite the increase in the Realization Cap and price, network activity has not shown the same increase.

According to data from Glassnode, despite an increase in the Realization Cap and price, Ethereum network activity has not shown a significant increase. The average of new addresses and revived addresses decreased compared to the values so far this year.
This decrease suggests that the Pectra update has not been successful in attracting interest from new or returning users. However, the decrease in churn, which indicates a decrease in inactive addresses, indicates increased engagement among existing Ethereum users.
The increase in Cap Realization and Ethereum price shows that the Pectra update has been successful in attracting capital into the asset. Nonetheless, challenges remain, especially in increasing network activity and attracting new users.
Going forward, it will be interesting to see if this positive trend will continue and how Ethereum will adjust its strategy to further increase user engagement and maintain a steady flow of capital.
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