Ethereum

Bitcoin

Ethereum (ETH) is making a recovery while biggies like Bitcoin and XRP seem to be slowing down. ETH price recorded a jump of 5% in the last 30 days while <a href="https://news.todayq.com/bitcoin-miners-increase-sell-offs-ahead-of-halving-event/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> dumped by around 4% in the same time. Ether’s recent surge comes in with a highly anticipated Denouement (Dencun) upgrade. It has moved a step closer to its mainnet activation. However, this took place after a successful final dress rehearsal on the Holesky test network.&nbsp; Ethereum upgrade on the move 
According to reports, the test, simulating “proto-danksharding,” featured technical enhancements that look to reduce transaction costs for rollups. This makes data availability more economical through the introduction of “blobs”. The upgrade on the Holesky test network, the newest and largest of the three testnets, brings Dencun closer to its mainnet activation. It is expected to come in the next few weeks.
Dencun will introduce changes to Ethereum, it marks its most substantial upgrade in almost a year. The successful simulation on Holesky signals developers’ progress in addressing potential bugs and refining the upgrade before it goes live on the mainnet.
Data suggest that the successful Holesky test activation triggered notable activity on the Ethereum blockchain. Whale Alert, a crypto transactions tracking platform, reported several large crypto whales’ transactions totaling close to 240,000 ETH.
While ETH price witnessed a slight pullback after earlier surges but it has shown signs of recovery. The testnet activities and whale transactions align with the broader market sentiment surrounding the largest altcoin. ETH ETF on the way? 
Meanwhile, in the regulatory landscape, the US Securities and Exchange Commission (SEC) has delayed a decision on a spot Ether exchange-traded fund (ETF). It was a joint proposed by Invesco and Galaxy Digital.&nbsp;
The proposed ETF would provide institutional investors with direct exposure to spot Ether. It will offer an alternative to existing investment options. This could potentially tied to Ether’s growth. The delayed decision is consistent with previous actions by the SEC. However, it indicates ongoing regulatory considerations for cryptocurrency-related financial products.
Surging from decline, Ethereum price jumped by 2% in the last 24 hours. It is trading at an average price of $2,371, at the press time. ETH’s 24 hour trading volume is up by 2% to stand at $8.5 billion.
It will be crucial to see if the new upgrade could help the largest altcoin breach the $4,000 price level.
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