Standard Chartered bank predicts Ethereum could surpass a price of $14,000 next year, mirroring the current boom in Bitcoin. The bank’s latest report has outlined a positive outlook for the second-largest cryptocurrency by market cap.
Improved Scalability
One of the key features of the Dencun upgrade is its focus on improving the scalability of the Ethereum network. With the implementation of new technologies such as sharding and layer 2 solutions, Dencun aims to address the increasing demand for transactions on the Ethereum blockchain, making it more efficient and faster.
Ethereum has seen a significant increase in its value this month, with a 28% rise in distribution across various exchanges and platforms. Investors and analysts have attributed this surge to the impending upgrade known as Dencun, as well as the scaling networks that have been gaining momentum in the Ethereum ecosystem.
JPMorgan, one of the largest investment banks in the world, has made a surprising move in the crypto space following the recent price rally of major cryptocurrencies like Bitcoin, Ethereum, and XRP. The bank announced that it is now offering its wealth management clients access to cryptocurrency funds.
The cryptocurrency market experienced a sudden and significant downturn this week, as both Bitcoin and Ethereum witnessed a sharp decline in their prices. This comes despite the recent excitement surrounding the possibility of a Bitcoin Exchange-Traded Fund (ETF) being approved by the U.S. Securities and Exchange Commission (SEC) in the near future.
Increased Volatility and Investor Frenzy
With the launch of Bitcoin ETFs, the cryptocurrency has experienced a surge in investor interest and trading activity. This heightened demand has resulted in increased price volatility as buyers and sellers seek to capitalize on the ETF hype. Transitioning into a more regulated investment vehicle appears to have stirred up a frenzy among cryptocurrency enthusiasts and traditional investors alike.
