Ethereum Price recovery syncs with the new ‘Dencun’ upgrade going live.
Standard Chartered predicts Ethereum may reach $4,000 by May amid ETF expectations.
Ethereum, the second-largest cryptocurrency by market capitalization, showcased a notable recovery yesterday, breaking free from a two-week bearish trend. In the second week of January, ETH reached a 20-month high of $2,710 but dipped to $2,168 eight days ago. Despite the setback, ETH has experienced a 7% surge in the past seven days and is currently trading at $2,341.
This market rebound coincides with Ethereum’s ‘Dencun’ Upgrade, which went live on the second testnet. With only one remaining testnet, Holesky, scheduled for February 7, developers will soon finalize a date for Dencun to activate on the main blockchain.
Dencun represents Ethereum’s most significant upgrade since early 2023, going live on the Sepolia testnet on Thursday at 22:51 UTC and finalized at 23:10 UTC, bringing the much-anticipated “Dencun” pro
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