😗 WILL THE UPCOMING ETHEREUM UPGRADE INCREASE THE PRICE OF ETH? 🧐
🤩 The upcoming Ethereum upgrade may affect the price of ETH, but it is not certain that the price will increase. A recent study has shown that Ethereum governance decisions do not have a major impact on ETH price. However, in the period leading up to the significant discussions on Ethereum improvements, the ETH price increased by about 18%.
The next major Ethereum upgrade is Dencun, which is expected to reduce transaction costs on layer 2. Ethereum developers will test Dencun on the Sepolia and Holesky testnets on January 30 and February 7. The data also shows that ETH prices tend to increase in response to major changes to the Ethereum network.
However, ETH prices do not always reflect stock market trends, suggesting that there are many factors that influence ETH prices. So, it is impossible to make an exact prediction as to whether the ETH price will increase after the Ethereum upgrade.
