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Ethereum Price Hike
As Ethereum (ETH) successfully runs its next update on its latest testnet, the bullish winds are getting stronger by the day.
Ethereum price has attracted attention by rising around 3% in the last 24 hours alone. There were many reasons behind the rise.
One of these reasons, and perhaps the one that will be talked about the most in the coming days, stands out as the Dencun upgrade, which has a critical value for the Ethereum network.
The Dencun upgrade, which aims to reduce transaction costs on rollups and make the network more scalable, was successfully completed on the latest testnet, Holesky, on Feb. 7. All that's left is for developers to set a date for the mainnet launch. According to voices from the community, mainnet integration will take place in March.
In parallel with the successful update, the recent update to the spot Ethereum ETF application file by giant investment companies Ark Invest and 21Shares had a positive impact on the price.
While the US Securities and Exchange Commission (SEC) is expected to make its final decision on the spot Ethereum ETF by May 23, expectations have increased that Ethereum will outperform even Bitcoin in the next 2-3 months.
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