Ethereum

Promise

2024

Coin

<p>The Ethereum blockchain is about to undergo a major transformation with the Dencun upgrade. This long-awaited upgrade promises to revolutionize the scalability and efficiency of the Ethereum network, paving the way for significant changes in the cryptocurrency market.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Traders?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Traders</a> beware! <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> price may encounter turbulence ahead of <a href="https://twitter.com/hashtag/Dencunupgrade?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Dencunupgrade</a>, warns QCP Capital.<br><br>Stay ahead, strategize, navigate wisely through the storm. Knowledge is power!<a href="https://t.co/hz9rhQp19S" rel="noopener noreferrer nofollow">https://t.co/hz9rhQp19S</a></p>— Coin Edition (@CoinEdition) <a href="https://twitter.com/CoinEdition/status/1767812910745559366?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 13, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
 <figcaption class="wp-element-caption">
  The price of Ethereum (ETH) could be disrupted before the Dencun update
 </figcaption>
</figure>
<h2 id="h-dencun-upgrade-of-ethereum-a-promise-of-increased-scalability">Dencun Upgrade of Ethereum: A Promise of Increased Scalability</h2>
<p>At the heart of the <a href="https://www.cointribune.com/en/ethereum-dencun-the-planned-upgrade-for-march-2024/" target="_blank" rel="noopener noreferrer nofollow">Dencun upgrade</a> is <strong>the “proto-danksharding.”</strong> This is a technical innovation aimed at significantly reducing transaction costs for layer 2 blockchains.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>This major advance could resolve the scalability issues currently hampering Ethereum. It would indeed allow the crypto network to potentially process <strong>up to 100,000 transactions per second</strong>. Such capacity would propel Ethereum to the status of an ideal cryptographic platform.</p>
<h2 id="h-what-are-the-implications-for-crypto-investors-and-developers">What are the implications for crypto investors and developers?</h2>
<p>The increase in transaction processing capacity and the reduction in costs generated by the Dencun upgrade could attract a wave of new developers and users towards the Ethereum ecosystem.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:ETHUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:ETHUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/ETHUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">ETHUSD chart</span></a> by TradingView
 </div>
</div> 
<p>This increased adoption <strong>would stimulate demand for ETH</strong>, positively influencing its price. Moreover, the upgrade could promote more diversification of the Optimism (OP) ecosystem and better availability of ZK-Rollups applications.</p>
<h2 id="h-ethereum-price-contrasting-prospects">Ethereum Price: Contrasting Prospects</h2>
<p>Analysts like <a href="https://coinedition.com/ether-price-might-fall-as-dencun-upgrade-nears-qcp-capital/" target="_blank" rel="noopener noreferrer nofollow">QCP Capital</a> are predicting a correction in the ETH price as the upgrade approaches. They highlight <strong>the increase in short positions</strong> on Ethereum options. This indicates some investor apprehension about a possible price drop. This trend could be explained by a desire to hedge against risks associated with altcoin investments.</p>
<p>Market indicator analysis also reveals <strong>mixed signals</strong>.</p>
<ul>
 <li>On one hand, the risk reversal for ETH has become negative. This suggests concern about a price drop.</li>
 <li>On the other hand, the spot-forward spreads for Ethereum have slightly decreased. This denotes some confidence in the price stability.</li>
</ul>
<p>At the time of writing, the <a href="https://www.cointribune.com/en/crypto-markets/ethereum-eth-en/" target="_blank" rel="noopener noreferrer nofollow">price</a> of Ethereum (ETH) <strong>stands at $4,047.</strong></p>
<p>Despite short-term uncertainties, the Dencun upgrade represents a crucial milestone for Ethereum. To be followed…</p>

Ethereum: Crypto analysts predict a price drop before the Dencun upgrade

Table of Contents

Cointribune EN

Other articles published on Mar 13, 2024

Uniswap Token Reaches 26-Month High; Excitement Builds For This AI Altcoin Presale

Here’s why Avalanche’s price is up by 30%

Toncoin Price Rallies 23% As TON Partners DWF Labs & Fireblocks

AMD’s 7950X CPU Ushers in a New Era of Cost-Effective Mining

Binance Responds to Nigerian Ban Amidst Rising Crypto Adoption

Elon Musk slams U.S. dollar again, compares it to a ‘scam coin’

Join our free newsletter for daily crypto updates!