PANews reported on May 10 that according to CoinDesk, after the successful upgrade of Ethereum Pectra, ETH has risen by more than 30% in a single week, while other altcoins SOL, ADA, XRP and BNB have also gained 2-6%.

Nick Ruck, director of LVRG Research, said traders believe that the cryptocurrency industry may have finally found a second chance to hedge against market uncertainty, and investors are changing their views on cryptocurrencies as altcoins have broken away from negative trends and found a new round of risk appetite bringing buying pressure. However, traders are still closely watching this weekend's Sino-US trade negotiations, which will begin in Switzerland later on Saturday, and any signs of a stalemate or renewed escalation of tensions could weaken the current rally.