OTW Crypto Rp. 1.08 billion, this is a coin that can bring in money
Ethereum (ETH) prices also saw a rise in February, partly due to bitcoin momentum and partly due to anticipation of the Dencun network technology upgrade, scheduled for March 13. In addition, Ethereum investors hope that the US Securities and Exchange Commission will soon approve this. first place Ethereum ETF.
As March approaches, the crypto market's attention may shift from bitcoin to Ethereum as the world's second most valuable crypto network implements the Dencun upgrade, also known as Duncan or EIP-4844.
However Ethereum faces stiff competition from Solana (SOL), Avalanche (AVAX) and others. Critics of the ethereum blockchain network point to Ethereum's relatively slow transaction speeds, low throughput, and high fees for users. For example, Grayscale reported recent average Ethereum transaction fees of $2.30 were “much more expensive” than Solana.
Is an Ethereum Spot ETF Coming?
Ethereum investors could get more good news in the coming months if the SEC approves a first-class spot Ethereum ETF. At least 10 companies have applied to launch spot Ethereum ETFs, including Fidelity Investments and BlackRock (BLK). The SEC faces a May deadline to decide on the first wave of spot Ethereum ETF applications.
Ethereum is the only cryptocurrency besides bitcoin whose futures contracts are traded on the Chicago Mercantile Exchange (CME), which is regulated by the Commodity Futures Trading Commission.
Rikke Staer, CEO of Coinify, said predictions surrounding the bitcoin halving event will likely dominate crypto market headlines in March.
"Previous halvings in 2012 and 2016 were followed by significant bitcoin price increases, creating a bullish narrative around the halving in 2024," Staer said.
However, he said this halving was not necessarily good news for everyone.
