The recent surge in the price of Ethereum has been spectacular. It has once again surpassed the price of Bitcoin. This indicates that ETH is heading towards $3,000. Now, the biggest question may be whether Ethereum can reach this milestone as early as February. However, with recent announcements, there is a possibility that ETH price could reach $5000. Let’s take a look at this Ethereum price prediction Read the article in more detail.
How has the price of Ethereum moved recently?
Over the past week, Ethereum has recorded a first-class surge of over 5%. In just seven days, rates went from under $2,250 to over $2,400. This upward trend has pushed Ethereum’s rate higher than that of Bitcoin, with a modest increase of around 2% over the same period.
Ethereum has maintained fantastic momentum in recent weeks. Following the approval of the Bitcoin ETF, the price of Ethereum soared. Rumors about future Ethereum ETF features have further fueled this upward movement.
Ethereum Price Prediction: Will Ethereum Price Reach $5000 After March 13th?
Big news from the Ethereum camp! The long-awaited Dencun upgrade features a much-hyped “proto-danksharding” feature, the timing of which was revealed in a chat with Ethereum’s top developers on Thursday.
The upgrade aims to reduce layer 2 transaction costs and increase data availability on Ethereum, marking the biggest change to the blockchain since April 2023. The upgrade rolled out smoothly on Wednesday on the third of three test networks.
At their bi-weekly coordination meeting on Thursday, Ethereum developers confirmed March 13 as the target date for the Dencun upgrade, beginning the countdown to a major overhaul of the blockchain.
This upgrade is about “proto-danksharding”, which is set to reduce transaction costs in Layer 2 networks by creating special points for data storage.
This decision was made after the upgrade was seamlessly integrated into the Holesky testnet and no issues were encountered. Speaking to CoinDesk via Telegram, Parithosh Jayanthi, DevOps Engineer at the Ethereum Foundation, said, “It’s great to see years of hard work finally being ready for the Ethereum mainnet. “This is really cool.”
The critical moment of the Dencun upgrade, also known as a “hard fork,” will begin when the blockchain reaches slot 8626176, scheduled for March 13 at 13:55 UTC. Of course, this date requires approval from you and your developer. This is the official green light on GitHub.
A game changer for Dencun? We introduce a new transaction class called “proto-danksharding” that is poised to significantly reduce transaction costs for rollups by introducing data “blobs” for data storage. Ethereum has some really exciting times ahead!
This may mean: Ethereum price It could already reach $3,000 in the coming weeks. In particular, if the price of Bitcoin shows an upward trend, the price of Ethereum can rise significantly again, reaching the $3,000 level as early as February and the $5,000 level after March 13th.
What impact does the Ethereum blockchain upgrade have?
Dencun coming to the Ethereum blockchain could be a game changer. With its “proto-danksharding” feature that reduces costs for layer 2 transactions and improves information availability, Ethereum is poised for significant improvements in performance and performance.
This upgrade represents the biggest real overhaul of the blockchain, reflecting years of trials and improvements. As soon as it goes live, Dencun is expected to streamline transaction processing, reduce congestion, and make Ethereum more scalable and cost-effective for both users and developers.
This could attract more projects and customers to the Ethereum environment, resulting in further growth and adoption. The Dencun upgrade ushers in a new era of innovation and development for Ethereum, with the ability to solidify its position as a leading blockchain platform in the cryptocurrency space.
Where can I buy Ethereum?
Bitget stands out as a trustworthy cryptocurrency exchange. It offers a user-friendly interface so both beginners and experienced traders can easily navigate and trade with some of the lowest fees on the market. To get started with Bitget, you can create an account, complete the necessary KYC procedures, and then start trading the various altcoins available on the platform.
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