It is the second most valuable member of the cryptocurrency community in terms of both volume and price. Ethereum (ETH) is preparing for an eventful year. Developers, who have worked tirelessly under the leadership of Vitalin Buterik since the first day of service, will continue to work in the coming year. They will achieve great things resembling.

Cryptocurrency markets have been around for a long time accumulation process it has come to an end. Almost all crypto assets, especially Bitcoin (BTC), have started gaining value lately. The Ethereum price, which was $1,200 in 2023, has increased by almost 100 percent at the time of writing this article. $2,358 is trading at levels. The general view in the markets is that $2,000 is now a permanent level for Ethereum.

So what will 2024 be like for ETH?

The year 2024 will be important for Ethereum, even from the beginning. The main reason for this is that it will start testing within a month.dencun“upgrade. Above all, this upgrade will increase the security of the Ethereum network. However, the upgrade will not be just that. The upgrade, which will increase the scalability of the blockchain, will ensure that gas rates reach a more reasonable level and will increase efficiency.

Dencun upgrade to testnet called Goerli January 17th will reach from. With the start of the testing process, collection costs at level 2 will also start to decrease. The upgrade, which will also be tested on Ethereum’s Sepolia and Holesky networks, is in its final stages. main agha will be integrated. The process is expected to be completed in February Ethereum price It is already a matter of curiosity what impact it will have on the future.

We can’t miss the Bitcoin halving and ETF approval!

Although we have talked specifically about Ethereum so far, the cryptocurrency markets in general will be active next year. The first reason for this is the upcoming halving on the Bitcoin (BTC) front. Let’s explain this phrase that you see everywhere these days: miners’ income with Bitcoin halving. will drop by half. The process, which occurs once every 210,000 blocks and is expected to occur around April – May 2024, has occurred in the past. bull seasons let it happen. The price of Ethereum will be affected by this development.

The US Securities and Exchange Commission (SEC) has been pushing for Bitcoin for a long time. ETF approval meet. To be fair, the SEC has no further action to take and will give Bitcoin ETF approval. This approval allows institutional investors to officially purchase BTC. Investors have a big one wait anxiously The approval could lead to a lot of crypto assets gaining value, including ETH.

Remark: Cryptocurrencies are risky investment instruments and can lead to enormous losses. Therefore, you must do detailed research before investing in any crypto asset. However, this content should not be considered investment advice.