2024

Uniswap

Starknet

when

<p>Currently, Ether (ETH), Ethereum’s native cryptocurrency, is on fire. Recently, the second major crypto in the market made headlines when it reached a level it hadn’t approached since 2021. But its bullish momentum doesn’t seem to want to stop. ETH has broken the $3,000 resistance, greatly aided by operational advancements from Uniswap, a decentralized trading protocol built on Ethereum.</p>
<h2 id="h-ethereum-attains-a-new-price-record">Ethereum Attains a New Price Record!</h2>
<p>ETH is once again at the center of crypto investors’ attention. Data shows that <a href="https://www.cointribune.com/en/spectacular-rise-of-ethereum-are-we-on-the-verge-of-the-altseason/" target="_blank" rel="noopener noreferrer nofollow">Ethereum’s native crypto</a> has surpassed the symbolic $3,000 mark. It had already briefly reached this level a few days ago, before retracting to make way for speculations.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Recently, the question of whether the asset’s bullish momentum would continue divided analysts. However, analyst Mikybull Crypto had advocated for a sustained rise in ETH in March, with $3,000 as a potentially reachable target.</p>
<p>One can say that <a href="https://www.cryptoglobe.com/latest/2024/02/ethereum-eth-trading-above-3000-with-just-2-5-weeks-left-before-dencun-upgrade-hits-the-mainnet/" target="_blank" rel="noopener noreferrer nofollow">ETH’s current trends</a> totally justify his stance before the deadline. Indeed, ETH is currently hovering around a valuation of $3,105. A record level for 22 months, far from the all-time high of $4,721.07.</p>
<p>This rise in valuation of Ethereum’s native crypto did not happen on its own. Data indicate a parallel between this remarkable price increase and trends concerning the Uniswap protocol, which is based on the Ethereum blockchain.</p>
<h2 id="h-eth-s-soar-aided-by-uniswap-among-others">ETH’s Soar Aided by Uniswap, Among Others</h2>
<p>The enhancement of ETH’s price coincides with a significant leap in the value of UNI, Uniswap’s native crypto. It saw its price increase by 40% in a single day, with a weekly uptick of 42.40%.</p>
<p>This caused the crypto’s price to go from $7 to $12.7 before stabilizing around $10.5. This surge seems to have been catalyzed by a proposal to set up fee sharing within the protocol. But there’s more to it.</p>
<p>According to analysts, the recent price hike could be partly attributed to investors reallocating their Uniswap profits towards ETH. This trend, coupled with the anticipation of the Starknet airdrop, may have brought Ethereum closer to a 0.06 BTC ratio compared to Bitcoin. It must be said that the approach to such a ratio was foreseeable, especially in the context of speculation surrounding the potential approval of Ethereum Spot ETFs.</p>
<p>More broadly, Ethereum platform’s current vitality seems to be a confluence of several factors. Namely, the transition to a proof-of-stake consensus mechanism with “The Merge” in September 2022. But also, the emergence of Layer 2 scaling solutions in 2023. All of this validates Ethereum’s modular strategy. With the arrival of the Dencun upgrade, another spike is not ruled out.</p>
<figure class="wp-block-image"><img decoding="async" src="" alt="">
</figure>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">Ethereum Jumps on Uniswap Pump<a href="https://t.co/Jv9s952Xtr" rel="noopener noreferrer nofollow">https://t.co/Jv9s952Xtr</a></p>— John Morgan (@johnmorganFL) <a href="https://twitter.com/johnmorganFL/status/1761812125729562663?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 25, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
</figure>

Ethereum: The Crypto Has Reached Unprecedented Highs Since 2021

Table of Contents

Cointribune EN

Other articles published on Feb 26, 2024

Analyst Predicts Massive 11,500% Rally for Dogecoin, Updates Outlook on One DOGE Rival and Cardano

Bitcoin and Ethereum Technical Analysis Overview

Circle partners with Krafton for innovative metaverse project

Microsoft Introduces Azure Operator Call Protection at MWC 2024

XRP CEO Open to Welcoming a Spot XRP ETF; LINK and InQubeta (QUBE) Tipped to Lead the Next Bull M...

Polygon’s Market Value Soars as Trading Volumes Spike

Join our free newsletter for daily crypto updates!