In the wake of the Dencun upgrade, ETH has shown strong performance, particularly benefiting from increased activity on Layer 2 solutions due to reduced costs. The upgrade reinforces Ethereum's position as a leading smart contract platform, enhancing its long-term value proposition. The upcoming potential approval of spot Ethereum ETFs in the US (though further out than Bitcoin ETFs) is another major narrative that could drive future institutional interest.

However, competition from other Layer 1 blockchains and persistent regulatory uncertainty mean that volatility will remain a characteristic of ETH. Investors are keenly watching the growth of Layer 2s and the overall health of the DeFi and NFT sectors built on Ethereum.$ETH #Ethereum #ProjectCrypto

ETH

2,854.79

+1.17%