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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereums-steady-performance-and-upcoming-dencun-upgrade/" data-wpel-link="internal">Ethereum’s Steady Performance and Upcoming Dencun Upgrade</a><br></p>
<p style="text-align: justify">Despite the rise of <strong><a href="https://en.coin-turk.com/bitcoin-slides-to-29000-as-crypto-market-declines/" data-wpel-link="internal">Bitcoin</a></strong> from $45,000 to $52,000, Ethereum has attracted attention for its relative stability. Many people consider this price behavior as a preparatory phase before upcoming developments in Ethereum, anticipating a move to a price level between $3,500 and $4,000 after all processes are complete. These developments are happening just before the critical <strong>Dencun</strong> upgrade, with investors’ optimism based on the expected upgrade continuing.</p> 
<h2 style="text-align: justify" id="ethereum-layer-2-and-dencun">Ethereum Layer-2 and Dencun</h2> 
<p style="text-align: justify">The upcoming Dencun upgrade planned for ETH in the near future threatens the power gained by Layer-2 (L2) solutions recently, with the upgrade potentially increasing Ethereum’s transaction capacity to 100,000 transactions.</p> 
<p style="text-align: justify">As this scenario unfolds, the value of L2 tokens in relation to <strong>Ethereum</strong> is increasingly questioned as the Dencun upgrade approaches.</p> 
<p style="text-align: justify">As of today, networks such as <strong>Arbitrum, Optimism</strong>, and various other L2 networks play a significant role in Ethereum’s scalability. The upcoming Dencun upgrade could reverse this entire process and suddenly impact the utility and value of L2 tokens.</p> 
<h2 style="text-align: justify" id="ethereum-holdings-increase">Ethereum Holdings Increase</h2> 
<p style="text-align: justify">Recent ETH accumulation transactions by a whale, coinciding with the price increase, suggest that bullish movements in Ethereum could start in the coming days.</p> 
<p style="text-align: justify">The presence of 69,500 ETH worth $179 million at various CEX exchanges at the time of writing indicates a significant increase in demand for Ethereum.</p> 
<p style="text-align: justify">Purchases by whales appear to correlate with a 24% price increase in ETH since the beginning of February. Moreover, looking at the fear and greed index for ETH, market participants seem to lean towards a more positive outlook.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-315187" src="https://coin-turk.com/wp-content/uploads/2024/02/eth-fear-greed-coin-turk-com.png" alt="" width="645" height="571"></p> 
<h2 style="text-align: justify" id="ethereum-s-place-in-the-crypto-world">Ethereum’s Place in the Crypto World</h2> 
<p style="text-align: justify">Although L2 solutions appear to be in competition with each other, Ethereum’s native token ETH has stood out with strong performance, except for ImmutableX, which has positioned itself as a company focused on blockchain games and exceeding expectations.</p> 
<p style="text-align: justify">The potential announcement of a spot Ethereum Exchange-Traded Fund (ETF) expected to be approved soon seems to be creating a positive sentiment for L2 Ethereum.</p> 
<p style="text-align: justify">The Dencun upgrade, which is expected to occur shortly, appears to be a historic turning point for the ETH ecosystem.</p> 
<p style="text-align: justify">If Ethereum’s scalability reaches the desired level and transaction volumes after this development, the need for L2 solutions could see a significant decrease. Nevertheless, when looking at the long-term outlook of the existing L2 networks, the value of their assets should not be limited to scalability improvements alone.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereums-steady-performance-and-upcoming-dencun-upgrade/" data-wpel-link="internal">Ethereum’s Steady Performance and Upcoming Dencun Upgrade</a></h5>

Ethereum’s Steady Performance and Upcoming Dencun Upgrade

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