Summary
TLDR: Ethereum’s price surpasses $3,500 with a 3% gain in 24 hours and 15% gain in the past week, reaching its highest point since January 2022. The upcoming Denouement upgrade on March 13 is expected to make transactions faster and cheaper. DeFi projects are seeing increased activity with $94 billion in total assets, rebounding from the TerraUSD crash in 2022 which caused a drop in TVL to $36 billion. Ethereum and Solana have seen significant growth in the past month.
Key Points
1. Ethereum has reached a price of $3,506.38, marking a 3% gain in the past day and a 15% gain over the past week. This is the highest price Ethereum has seen since January 2022, with 91% of ETH held in wallets now in the money.
2. Ethereum developers are preparing to implement the Dencun upgrade on March 13, which will introduce proto-danksharding to the network. This upgrade is expected to make transactions faster and cheaper, with developers describing it as a significant improvement.
3. The total value of assets locked in DeFi protocols has reached $94 billion, the highest since the TerraUSD crash in 2022. Following the crash, DeFi protocols saw a significant decrease in total value locked, but the ecosystem has since nearly tripled in value, with Ethereum and Solana experiencing significant growth in the past month.