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Ethereum Hits $3,800: Dencun Upgrade and ETF Hype Propel Surge

Published 03/07/2024, 04:28 PM
Updated 03/07/2024, 04:45 PM
© Reuters Ethereum Hits $3,800: Dencun Upgrade and ETF Hype Propel Surge
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  • Crypto Analyst Van Pope speculates Ethereum a reaching new ATH as it surged to $3,800
  • Analyst suggests factors behind this surge might be the upcoming Dencun upgrade and potential ETF approval speculation.
  • ETH/USDT pair shows upward movement compared to BTC/USDT which barely moved post Bitcoin ATH.

Michael Van Pope, a prominent crypto analyst, took to X speculating a new all-time-high for Ethereum. He stated two key factors driving the bull run could be the Dencun upgrade and the likelihood of ETF approval. Ethereum (ETH) crossed $3,000 and surged to $3,800 earlier this week, marking its highest value in nearly two years.

The Dencun upgrade, scheduled for release on March 13, is poised to be one of Ethereum’s most significant updates since the transition to Proof-of-Stake consensus. This upgrade brings the implementation of “proto…

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