Ethereum

<ul><li>Ethereum&#39;s Q2 report shows a 240% price increase since November.</li><li>The Dencun upgrade introduced blob storage, reduced gas fees for Ethereum.</li><li>Glassnode analysis suggests Ethereum&#39;s 2024 growth potential mirrors 2018-2022.</li></ul>Ethereum has undergone significant developments, achieving a <a href="https://www.coingecko.com/en/coins/ethereum" rel="noopener noreferrer nofollow">market capitalization</a> of $225.5 billion. This evolution includes critical upgrades such as the introduction of smart contracts, the DAO hard fork, and the recent Dencun upgrade.In a recent <a href="https://www.coinbase.com/institutional/research-insights/research/market-intelligence/q2-2024-guide-to-crypto-markets" rel="noopener noreferrer nofollow">report</a>, Glassnode and Coinbase shared insights on Ethereum&#39;s performance in the current market cycle and Q2 2024. ETH&#39;s price has surged by 240% since its low in November. The report notes that the current market cycle resembles the 2018-2022 cycle, during which ETH achieved a 6,000% increase from its cycle low.Despite a 31% annual return and a 29% drawdown in 2024, these figures are modest compared to previous cycles. This suggests ETH may have further growth potential. Additionally, ETH&#39;s Market Value to Realized Value (MVRV) has broken below its six-month Simple Moving Average (SMA). This indicates that many investors acquired ETH at prices below the current market value, pointing to a possible market transition. A break above the six-month SMA could bring many of these holdings into profit.<a href="https://cryptotale.org/ethereum-q2-report-shows-240-price-surge-as-upgrades-continue/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ethereum Q2 Report Shows 240% Price Surge as Upgrades Continue

CryptoTale

Other articles published on Aug 1, 2024

MicroStrategy’s Q2 Report: Huge Bitcoin Gains and Rising Financial Losses

WHY Is The Crypto Market DOWN Today: REASONS For Bitcoin Price Drop

Trump’s Speech Boosts Bitcoin Price

Venezuela’s Cry for Freedom Encoded in Bitcoin’s Blockchain

Trump vs SEC Solana Memecoin Will Explode 19,000% Before Exchange Listings, As Shiba Inu and DOGE...

Ark Invest Sells Over 12,000 Coinbase Shares Worth $2.7 Million

Join our free newsletter for daily crypto updates!