Although the current non-farm payrolls, CPI and other news are already a piece of cake for the industry, the upgrade of Ethereum in Cancun is still worthy of our attention.
The Ethereum ecosystem in 2024 will surely be a highlight due to the multiple benefits brought by the Cancun upgrade, spot ETF expectations, continued deflation, and soaring pledges.
Ethereum has risen very strongly in the recent period. After breaking through 3500U in the past few days and setting a new high since May 2022, it has exceeded 4000U in the past two days. And judging from the increase in the past 30 days, Ethereum has increased by 62%. Bitcoin is indeed a surprise to many people.
However, taking a closer look at the ecological development of Ethereum, from the growing deflation data, to the smooth testing of the Cancun upgrade that is about to be launched on the main network, to the current increase in the amount of pledged and re- pledged ETH, and the ETH spot ETF in May. As expected, multiple positive benefits are indeed superimposed, and it is reasonable for the price of ETH to soar all the way.
