Summary
TLDR: Ethereum (ETH) hits 22-month high at $3,151, with open interest and funding rates at multi-year highs. The upcoming “Dencun” upgrade aims to solve scalability issues. Wall Street firms are seeking approval for ETH exchange-traded products from the SEC. Standard Chartered predicts ETH price could surpass $4,000 by May.
Key Points
1. Ethereum (ETH) is currently trading at 22-month highs, reaching $3,151 and gaining 3.5% in the last 24 hours and over 8% in the past week.
2. The upcoming upgrade for ETH’s network, named “Dencun,” aims to address scalability issues by introducing “proto-danksharding” to make transactions faster and cheaper through layer 2 solutions.
3. Several Wall Street firms are seeking approval for an ETH exchange-traded product from the SEC, with predictions that a spot ETH ETF approval could push the asset’s price above $4,000 per coin by May.