Ethereum’s much-awaited Dencun upgrade is ready to be deployed on the Ethereum mainnet at epoch 269568, after successfully activating the Dencun network upgrade on all testnets. The Dencum upgrade is estimated to happen at around 2 pm UTC, as per the Ethereum Foundation. The sentiment surrounding the Dencun hard fork has caused ETH price to surpass $2500 and even $4,000. The traders are now eyeing ETH price to hit $5000 after the upgrade.
Ethereum Price to $5000
The Ethereum Dencun upgrade is a major advancement that will have a broader impact on the Ethereum ecosystem. The upgrade will finally deeply EIP-4844, also known as “protodanksharding”, which will significantly lower L2 transaction costs.
While a reduction in transaction fees in itself is a major factor for a rise in prices, derivatives data holds key signals for upcoming ETH price trends.
The Ethereum futures OI hits all-time high of $14 billion, an increase of 3% in 24 hours and 1% in the last 4 hours. Binance, Bybit,
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