$ETH
Here's what's happening with Ethereum:
## Recent Updates
- *Dencun Upgrade*: Completed in the first quarter of 2024, this upgrade aimed to improve scalability and efficiency through nine EIPs, including EIP-4844, which reduces gas fees on layer two transactions.
- *Pectra Upgrade*: Upcoming upgrade expected to enhance transaction efficiency, data handling, and smart contract execution. It introduces Verkle Trees for scalable data storage and retrieval.
- *Celo Migration*: Celo transitioned to Ethereum Layer 2 on March 26, utilizing Optimism's OP Stack for scaling and EigenDA for data availability.
## Market Performance
- *Price Movement*: Ethereum's price recently reclaimed $2,000, with a 6.09% gain in the past 24 hours and a market capitalization of $242.86 billion.
- *Exchange Reserves*: Ethereum exchange reserves hit a yearly low, indicating potential buying pressure and a sign of strength.
## Development and Roadmap
- Ethereum 2.0 Roadmap: The Dencun upgrade marked the final stage of the Ethereum 2.0 roadmap, focusing on scalability, security, and sustainability.
- *Verkle Trees*: Part of the Pectra upgrade, Verkle Trees improve data storage and access efficiency, making the network more scalable.
- *Hoodi Testnet*: Ethereum developers introduced the Hoodi testnet ahead of the Pectra launch on the mainnet ¹ ² ³.