$ETH Ethereumās 2024 was a whirlwind year of innovation, turbulence, and transformation. From cutting-edge upgrades to regulatory tussles, and even Donald Trumpās surprising crypto moves, Ethereum continued to evolve as a key player in the blockchain space. Hereās a breakdown of the biggest moments that shaped Ethereum in 2024āand what could be on the horizon. šāØ
āļø Tech Wins: Dencun Upgrade Brings Efficiency
In March 2024, Ethereum dropped one of its most anticipated updates: the Dencun Upgrade. š Featuring the groundbreaking Proto-Danksharding (EIP-4844), it revolutionized Layer-2 networks like Arbitrum and Optimism, slashing transaction fees by up to 90%.
With lower costs and faster transactions, Ethereum became much more accessible to users who once balked at high gas fees. šļøšØ The introduction of āblobsā for data storage was another game-changer, cutting network costs further.
š ETFs: A Game-Changer for Ethereum Investors
July 2024 saw Ethereum crossing a major milestone: Spot-ETF approval by the SEC. ā These ETFs allowed investors to gain exposure to ETH without holding the asset directlyāa boon for institutional players.
Within just 3 days, over $200 million flowed into Ethereum ETFs, underscoring growing interest beyond the crypto-native community. š¼š°
šø Price Rollercoaster: Mixed Emotions for ETH HODLers
Ethereumās price journey in 2024 was anything but straightforward. ETH briefly crossed $4,000 in December, but itās still far from its $4,865 all-time high in 2021. As of Dec. 29, 2024, ETH sits at $3,358, leaving traders wondering: whatās next?
š Bullish case: Analysts see ETH breaking $5,000 in 2025 if technical upgrades and ETF inflows align.
š Bearish case: Skeptics warn of slower growth amid lingering regulatory uncertainty and competition from rival blockchains.
āļø Regulatory Drama: Ethereum vs. the SEC
Regulation was a hot topic in 2024, with the SEC putting Ethereum in its crosshairs. The Ethereum Foundation faced scrutiny, and Consensys, the firm behind MetaMask, was hit with a lawsuit alleging securities violations.
While Consensys successfully fought back and saw the case dismissed in September, the legal battle wasnāt without cost: 20% of its workforce was laid off in October, citing regulatory pressures. š
šŗšø Trumpās Crypto Push: A Surprise Ally?
Donald Trumpās return to the White House in November 2024 stirred up the crypto world. š¤
