Grayscale’s experts say that recent price increases are due to a new technological advancement.
Grayscale Research analyst William Ogden Moore stated in a February 23 report Dencun, the Ethereum Dencun upgrade Ether rallies are likely to have been sparked by the recent news.ETH) prices. TradingView reports that ETH has risen 34% over the past 30 days, and 28% for the year to date according to CoinMarkerCap.
Dencun Ethereum upgradeThis is an important step for Ethereum, as it will allow the platform to compete with faster chains like Solana in the Smart Contract Platforms Crypto Sector. Recent price performance is a reflection of the market’s expectation. upgrade.
William Ogden Moore Grayscale Research analyst
Dencun The mainnet of ETH and layer-2 solutions such as Arbitrum promise to improve throughput and lower transaction costs. Users can spend less on gas and perform more transactions.
Developers plan to achieve This major overhaul will be achieved via proto-danksharding and the introduction of data blobs.
Moore’s Report suggests that Ethereum may be able to gain more smart contract business from Solana and other competitors if they can lower their fees. Moore said that this would unlock a multi-billion dollar market tied to assets in the real world.
If Ethereum can simply become more competitive in throughput and cost, it could position itself to capture smart contract applications that demand high levels of security and censorship-resistance like stablecoins or tokenized financial assets.
William Ogden Moore Grayscale Research analyst
Grayscale’s bullish view on ETH and the blockchain that supports it complements its bid for a spot ETF following its successful GBTC exchange last month. Yahoo Finance reports that the company is hoping to do the exact same thing with its Grayscale Ethereum Trust (ETHE), with assets under management (AUM) of over $7 billion.
The U.S. SEC delayed Grayscale, as well as several other issuers, will not receive a final decision until May.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: crypto.news
