One of the main drivers of growth was the anticipation of the launch of spot ETFs on ether – several applications for such funds are currently under consideration by the US Securities and Exchange Commission (SEC). Analysts at AllianceBernstein give a 50% chance of launching in May of this year and are confident of launching an Ether ETF within a year.
Also fueling the ETH price growth is the expected Dencun update, which will introduce support for several proposals, including EIP-4844. We are talking about the introduction of proto-dunksharding – a data sharing system that will significantly increase the efficiency and throughput of Ethereum.
The last time the ETH price exceeded $3,000 was about 22 months ago, and in June 2022 it fell to $883. However, Ether is recovering faster than the broader cryptocurrency market. Many analysts expect continued growth of the second cryptocurrency. For example, Michael van de Poppe believesthat the ETH rate will reach $3,800 or even $4,500 in the foreseeable future.
It was previously reported that 25% of the issued ETH is currently used in Ethereum staking.
Source: Bits
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