Summary
TLDR: Ethereum (ETH) has reached $3,000 for the first time since April 2022, showing a 3.4% 24-hour increase. The recent surge is attributed to interest from Wall Street fund managers proposing spot ETH exchange-traded funds (ETFs) to the SEC. Additionally, ETH’s network is set to undergo an upgrade called “Dencun” which promises to make it faster and cheaper to use. Despite the recent increase, ETH is still below its November 2021 all-time high of $4,878.
Key Points
1. Ethereum (ETH) touched $3,000 for the first time since April 2022, just before the entire crypto market entered a brutal bear market.
2. The price of ETH stands at $3,000, representing a more than 3.4% 24-hour rise and a 13% increase over the past week.
3. High-profile Wall Street fund managers have proposed spot ETH exchange-traded funds (ETFs) to the Securities and Exchange Commission, with hopes of traditional investors gaining access to ETH in a safe and regulated way.