Ethereum (ETH) price hits $4,000 since 2021 as Bitcoin price hits new all-time highs
Ether rose from a price of $3,873 on March 8, up more than 4% over the past 24 hours and 74% year-to-date. It hit a 27-month high of $4,003 on Bitstamp, according to data from CoinMarketCap.
Ether’s price performance has been boosted by Ethereum’s upcoming Dencun update and the possible approval of a Spot Ether ETF by the U.S. Securities and Exchange Commission.
The Dencun upgrade, which is the most significant update to the Ethereum network, aims to implement a number of Ethereum improvement proposals (EIP), including EIP-4844, which will introduce “proto-danksharding.”
Proto-danksharding It is a feature that allows blockchains to use blobs, thus making the transaction process easier by storing some of the data outside the blockchain, speeding up transactions, and reducing costs for layer-2 networks and rollups. Live with Ethereum
Ethereum developers have scheduled the Dencun mainnet to go live on March 13th.
Another factor driving ETH’s price performance is the expectation that the US SEC will approve one of several Spot Ether ETF applications.
Although regulators have delayed a decision on the Spot Ether ETF from BlackRock and Fidelity, market participants are still hoping for approval soon, with the US SEC expected to make a decision on All Ether ETF applications same day As was done with the Bitcoin ETF on January 10th, there is no advantage or disadvantage.
The deadline for granting or denying Ether ETFs is set for May 23.
refer : cointelegraph.com
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