Ethereum

Bitcoin

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">While Bitcoin has undoubtedly captured the <a href="https://tokenist.com/can-2024-be-a-landmark-year-for-bitcoin-btc/" rel="dofollow" class="deco-link">lion’s share of attention</a> in the cryptocurrency market, analysts and investors are focusing on Ether (ETH), the native token of the Ethereum blockchain. With the highly anticipated <a aria-label="Dencun upgrade (opens in a new tab)" href="https://www.grayscale.com/research/reports/ethereums-coming-of-age-dencun-and-eth-2.0" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Dencun upgrade</a> and growing excitement surrounding the potential <a href="https://www.reuters.com/technology/franklin-templeton-files-spot-ethereum-etf-2024-02-12/" target="_blank" aria-label="approval of spot ETH exchange-traded funds (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">approval of spot ETH exchange-traded funds</a> (ETFs), many experts predict that Ether could more than double in value during 2024.</p> 
<p>As the world’s second-largest cryptocurrency by market capitalization, the question on everyone’s mind is whether Ether can follow in <a href="https://tokenist.com/bitcoin-btc-breaks-above-60k-as-meteoric-rise-signals-market-confidence/" rel="dofollow" class="deco-link">Bitcoin’s footsteps</a> and shatter its previous all-time high, further solidifying its position as a formidable force in the digital asset realm.</p> 
<h3 id="ether-inching-towards-all-time-high-after-bitcoin-in-march-up-67-ytd">Ether Inching Towards All-Time High After Bitcoin in March, Up 67% YTD</h3> 
<p>Ether, the second-largest cryptocurrency by market capitalization, has been on a remarkable upward trajectory in 2024. As of 12:36 PM UTC on March 8th, Ether’s price stood at $3,944.34, representing a 4% increase (+$151.63) from the previous day’s closing.</p> 
<p>The year-to-date (YTD) return for Ether has been an impressive 67.64%, reflecting the growing confidence in the Ethereum network and its potential for further growth. While Ether’s price has fluctuated throughout the year, reaching a high of $3,939.59 on March 7, 2024, and a low of $2,113.93 on January 3, 2024, recent price movements indicate a significant upward trend. <br><br>With an average daily trading volume of approximately $22 billion to $47 billion, Ether has solidified its position as a highly liquid and actively traded digital asset. Ether’s ability to recover from its January lows and achieve new highs in early March highlights the resilience and growing adoption of the Ethereum ecosystem.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p> 
 </div> 
</div> 
<h3 id="dencun-update-coming-soon-for-the-ethereum-mainnet-will-reduce-l2-fees-significantly">Dencun Update Coming Soon for the Ethereum Mainnet, Will Reduce L2 Fees Significantly</h3> 
<p>The highly anticipated Dencun upgrade, scheduled for March 13th, promises to be a game-changer for the Ethereum ecosystem. One of the primary expected outcomes is lower transaction fees for users leveraging layer-2 scaling solutions built on top of the Ethereum mainnet. This upgrade will enable Ethereum to function as a robust database for other blockchains, cementing its position as a foundational layer for the rapidly evolving Web3 landscape.</p> 
<p>The Dencun upgrade is a critical component of <a href="https://ethereum-magicians.org/t/a-rollup-centric-ethereum-roadmap/4698" target="_blank" aria-label="Ethereum's rollup-centric roadmap (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">Ethereum’s rollup-centric roadmap</a>, designed to support millions of users on layer-2 blockchains while improving overall scaling and efficiency. By reducing the costs associated with storing data on the main Ethereum blockchain, layer-2 solutions will likely see a significant reduction in fees for their users.</p> 
<p>The Dencun upgrade will not directly benefit Ethereum users by fee reductions, as its primary impact will be felt on layer-2 networks. In the short term, users seeking to take advantage of these fee benefits will have to trade off some level of decentralization and security by transacting on layer-2 solutions instead of directly on the Ethereum mainnet.</p> 
<p>As layer-2 platforms mature and gain traction, Ethereum is expected to remain the preeminent choice for application-specific purposes, leveraging its robust ecosystem and proven track record. The Dencun upgrade represents a significant milestone in Ethereum’s journey towards scalability, paving the way for broader adoption and innovation within the Web3 space.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><strong><em>Do you think Ether will continue its rally this year alongside Bitcoin? Let us know in the comments below.</em></strong></p> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/why-ether-eth-is-likely-to-hit-a-new-all-time-high-in-march-following-btc/">Why Ether (ETH) is Likely to Hit a New All-Time High in March Following BTC</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Why Ether (ETH) is Likely to Hit a New All-Time High in March Following BTC

Table of Contents

Tokenist

Other articles published on Mar 8, 2024

Bitcoin Surges Past $70,000 in Historic Rally, Ethereum Reaches $4K Milestone Amid Crypto Boom

Bitcoin Skyrockets to Record $70K Amidst US Job Reports Dragging Down Dollar

Bitcoin Stability and US Economic Data Influence Crypto Markets

World’s oldest exchange gains in-principle approval in Singapore

What is Fetch.ai? Full FET guide for enthusiasts

Major Cryptocurrencies Experience Positive Shift

Join our free newsletter for daily crypto updates!