Ethereum, the second-largest digital asset by market capitalization, is trading near the pivotal $4000 milestone for the first time since December 2021, up 15% during the past week.
Amid this price rally, leading restaking protocol EigenLayer is now the second-largest DeFi protocol in terms of total value locked, according to DeFillama data.
ETH’s price
Ethereum is currently priced at $3954 following a 4% gain during the past day, according to CryptoSlate’s data.
This upward movement in Ethereum’s value can be linked to the excitement surrounding the upcoming Dencun upgrade scheduled to go live on the mainnet by Mar. 13. Dencun brings proto-danksharding to Ethereum, a strategic move aimed at lowering transaction expenses for layer-2 blockchains, thus tackling scalability concerns head-on.
Moreover, the market is anticipating the potential approval of a spot ETH ETF by the US SEC. Should this approval materialize, it could serve as a significant catalyst propelling the ongoing pri
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