Ethereum

2024

Factor

Spot

<p>The post <a href="https://coinpedia.org/price-analysis/ethereum-price-might-surge-50-in-january-2024-heres-the-major-driving-factor-for-eth-price/" rel="noopener noreferrer nofollow">Ethereum Price Might Surge 50% in January 2024 : Here’s The Major Driving Factor For ETH Price</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>With Bitcoin ETFs finally approved, and the call for spot ETH ETFs rising, Ethereum is now standing at the threshold of a potential surge, with pivotal developments setting the stage for a remarkable bull in January.&nbsp;The imminent activation of the Dencun upgrade, known as the protodanksharding upgrade or EIP-4844, on the Goerli testnet on January 17 is poised to be a game-changer.</p>
<h2 class="wp-block-heading" id="h-eip-4844-unleashing-efficiency"><strong>EIP-4844: Unleashing Efficiency</strong></h2>
<p>The Dencun upgrade, specifically EIP-4844, aims to cut Layer 2 transaction fees on Ethereum by introducing “data blobs” – sizable data pieces linked to Ethereum blocks and rollups. This innovation enhances efficiency and lowers transaction costs within the Layer 2 scaling solution.</p>
<p>By implementing EIP-4844, Ethereum looks forward to freeing up Ethereum’s processing capacity, streamlining operations, and enabling rollups to handle transactions at a much lower cost.&nbsp;</p>
<h2 class="wp-block-heading" id="h-the-expected-bullish-storm"><strong>The Expected Bullish Storm</strong></h2>
<p>Ethereum is on a positive trajectory, surging to $2,500 after the SEC approved the Spot Bitcoin ETF. Keeping steady above key levels like the 50-day and 200-day Exponential Moving Averages at $2,231 and $1,959, analysts now set their sights on a promising target: the 78.6% Fibonacci retracement level at $3,004.</p>
<p>As Ethereum gears up with the Dencun upgrade, the optimistic market sentiment following the approval of the Spot Bitcoin ETF has made investors eagerly wait for a potential 50% surge within reach in January.</p>

Ethereum Price Might Surge 50% in January 2024 : Here’s The Major Driving Factor For ETH Price

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