$ETH Today's Ethereum (ETH) news highlights significant developments and predictions.

Ethereum experienced a notable boost in its financial performance during Q1 2024, tripling its earnings compared to the previous year. The network generated $369 million in earnings and $1.2 billion in transaction fees during this period, showcasing its strong growth trajectory despite high transaction costs [[❞]](https://cointelegraph.com/news/ethereum-earnings-triple-q1-2024-370-million).

In terms of market activity, Ethereum has seen a rally following the US SEC's request for exchanges to update their applications for a spot ETH ETF. This has led to a 26.5% increase in ETH's value over the past week [[❞]](https://watcher.guru/news/ethereum-ai-predicts-eth-price-for-june-1-2024). Price predictions for Ethereum vary, with some sources expecting it to consolidate around $3,784 today and potentially hitting $4,187 by August [[❞]](https://watcher.guru/news/ethereum-ai-predicts-eth-price-for-june-1-2024).

Additionally, the Ethereum network is preparing for the Dencun upgrade, which aims to enhance scalability and security. This follows Ethereum’s ongoing efforts to maintain its dominance in the blockchain space [[❞]](https://www.coindesk.com/consensus-magazine/2024/03/12/what-to-expect-from-ethereums-latest-massive-upgrade-dencun/).

Finally, Optimism, a scaling solution for Ethereum, is set to implement its Bedrock hard fork in June, promising further improvements in transaction speeds and cost efficiency on the Ethereum network [[❞]](https://www.coindesk.com/tech/2023/05/16/optimism-scaling-solution-for-ethereum-sets-june-date-for-biggest-ever-upgrade-bedrock/).