$ETH **Short Note on ETH (Ethereum) – Latest Update (May 2024)**

*$ETH *Ethereum (ETH)** remains the second-largest cryptocurrency by market cap, known for its smart contract functionality and decentralized applications (dApps). Recently, Ethereum has seen significant developments:

1. **Dencun Upgrade (March 2024)** – Successfully implemented, introducing **proto-danksharding (EIP-4844)** to reduce Layer 2 transaction fees, boosting scalability.

2. **ETH ETF Speculation** – The SEC is reviewing spot Ethereum ETF applications (e.g., BlackRock, Grayscale), with a decision expected soon. Approval could trigger major price movement.

3. **Price Action** – ETH has shown resilience, trading between **$2,800 - $3,200** amid market fluctuations, with bullish sentiment growing ahead of potential ETF news.

4. **Staking Growth** – Over **30% of ETH supply** is now staked post-Shapella upgrade, reinforcing Ethereum’s security and yield opportunities.

**Outlook:** Ethereum continues to lead in DeFi, NFTs, and institutional adoption, with further upgrades (e.g., **Pectra**) expected in 2024-25.