price of Ether It reached $3,000, a level not seen in 22 months since April 2022. The price climbed from $2,881 on February 19 and is up 74% over the past 12 months. It hit a year-to-date high of $3,019 on Binance.
Ether’s price performance comes as the market awaits the possible approval of the Ether ETF by the US Securities and Exchange Commission. and Implementation of Ethereum Improvement Proposal (EIP) 4844 via Dencun Upgrade.
Current odds from Polymarket It states that there is a 45% chance of Ether ETF approval by May 31.
Bloomberg’s Eric Balchunas estimates the chances of approval to be 70%, indicating a positive outlook for Ether ETFs amid regulatory delays.
The last time Ether traded above $3,000 was almost 22 months ago on May 4, 2022, when it hit a high of $2,966 before sinking into a bear market that took the price to $883 in June 2022.
Ethereum’s Dencun upgrade, expected on March 13, is expected to enable several EIPs, including EIP-4844, which will introduce proto-danksharding. This helps simplify the transaction process by storing some of the data outside of the blockchain. and helps speed up transactions and reduce costs.
refer cointelegraph.com
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