The privacy protocol upgrade of Ethereum is underway, and the market widely expects that this technological iteration will be a key catalyst for the revaluation of ETH prices.

From a technical perspective, the implementation of privacy features means that the ETH ecosystem is evolving from a completely transparent ledger system to an institutional-grade asset network that supports selective privacy. This shift is crucial for attracting traditional capital and high-net-worth users—many institutions and large holders have long been concerned about the complete traceability of on-chain transactions.

Once privacy needs are met, the suppressed incremental buying pressure may be released in a concentrated manner. Historical experience shows that each major upgrade is accompanied by a market repricing. Every current pullback may represent the final layout window. Many analysts consider $8,500 as a medium-term target, believing that this represents a reasonable market pricing after the completion of the privacy upgrade.