Ethereum

Rally

Wrapped Bitcoin

Bitcoin

Rise

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereums-surge-leads-market-rally-and-investor-focus-shifts-from-bitcoin/" data-wpel-link="internal">Ethereum’s Surge Leads Market Rally and Investor Focus Shifts from Bitcoin</a> 
The largest altcoin by market value, <a href="https://en.coin-turk.com/invesco-galaxy-applies-for-spot-ethereum-etf/" data-wpel-link="internal">Ethereum</a> (ETH), has joined the strong upward surge pushing the market higher. As a result, ETH has increased its weekly gain to over 12%, surpassing the $3,500 level. Currently trading at $3,475 with a market value of $416 billion, Ethereum’s trading volume has increased by 43% in the last 24 hours, exceeding $16 billion. 
<h2 style="text-align: justify" id="strong-investor-focus-shifts-from-bitcoin-to-ethereum-strong">Investor Focus Shifts from Bitcoin to Ethereum</h2> 
In the midst of Ethereum’s current rise, on-chain data provider Look On Chain highlighted a notable shift in whale activity from <a href="https://coin-turk.com/yuz-milyonlarca-dolarlik-bitcoin-btc-harekete-gecti" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/bitcoin-btc-kritik-fiyat-seviyelerinde-islem-gormeye-devam-ediyor-kripto-para-piyasasinda-son-durum" data-wpel-link="internal">BTC</a>) to Ethereum. The data provider pointed out a transaction by a whale-level crypto investor related to this finding. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-322555" src="https://coin-turk.com/wp-content/uploads/2024/03/Lookonchain-Altcoin.png" alt="" width="552" height="640"> 
A crypto whale detected by Look On Chain took advantage of the rising expectation towards Ethereum and made a series of transactions, earning over $300,000. Accordingly, a crypto whale first exchanged 1,500 ETH for 88.68 Wrapped <a href="https://en.coin-turk.com/bitcoin-halving-events-offer-last-minute-bargain-buys-says-analyst-rekt-capital/" data-wpel-link="internal">Bitcoin</a> (WBTC) and then converted the WBTC back to ETH, pocketing a profit of approximately 97 ETH, or about $338,000. 
<h2 style="text-align: justify" id="strong-ethereum-could-rise-to-4-000-with-dencun-update-strong">Ethereum Could Rise to $4,000 with Dencun Update</h2> 
The expectation surrounding the upcoming Dencun update for Ethereum is a closely watched update by the entire crypto world. This update aims to significantly reduce the cost and complexity of Layer 2 transactions, creating a major improvement in the Ethereum network. 
With the introduction of Blob and proto-danksharding, data storage on Ethereum’s Layer 2 networks will become more affordable, offering the same level of security at a lower cost. Analysts are optimistic about the impact of the Dencun update on Ethereum’s price, with expectations of a rise to $4,000 following its successful implementation. 
Another significant event closely monitored by the crypto world for Ethereum is the <a href="https://en.coin-turk.com/famous-analyst-predicts-rapid-bitcoin-crash-beware/" data-wpel-link="internal">SEC</a>‘s decision in May regarding Fidelity’s application for a spot Ethereum ETF. Although the general expectation in the market is for approval, the anticipated decision continues to be a topic of debate among investors and analysts alike. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereums-surge-leads-market-rally-and-investor-focus-shifts-from-bitcoin/" data-wpel-link="internal">Ethereum’s Surge Leads Market Rally and Investor Focus Shifts from Bitcoin</a></h5>

Ethereum’s Surge Leads Market Rally and Investor Focus Shifts from Bitcoin

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