Ether is the native currency of the Ethereum blockchain and is used to compensate nodes for performing computations in the Turing-complete instruction set of the Ethereum Virtual Machine (EVM).
As everyone in crypto world is waiting for Bitcoin halving that is due in April 2024 and SEC decision on spot Ethereum ETFs due in May 2024.As in crypto world news creates hypes that causes spotlighted alt to moon or plummet down to earth,same is happening with Ethereum too.Ethereum’s Dencun upgrade, is scheduled for March 13th, 2024,with every upgrade Ethereum is showing strength and scalability.This would be significant timespam for Ethereum to show it's correction although other platforms like Solana or Avax are doing well too in scalability and efficiency.
Ethereum is a definite leading smart contract platform but due to increased competition there are challenges that should be overcome with corrections as always new users in the ecosystem choose faster, cheaper mediums and try to avoid high gas fees but in Ethereum case this is costly and charging about 2.3% to users in February 2024 therefore we analyse Ethereum by its slow transaction speed and high fees.Ethereum has shown excellent stability since December 2023. Its price has increased and overcome the important $3,000 level.
As our team analyse, Dencun upgrade a positive and strong indication in Ethereum price growth but looks SEC decision in May with volatilety and tension in price too,So finger crossed for traders.
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