Ethereum Price at 22-Month High as Open Interest Soars and Dencun Nears
Balita ng Ethereum ng Bitcoin Ethereum (ETH) continues to be the top coin. The second biggest digital asset by market cap is trading at 22-month highs on Monday. ETH is now priced at $3,151, CoinGecko shows, having broke past the $3,000 mark for the first time since April 2022 last week. It has gained 3.5% since the same time yesterday and risen by more than 8% over the past week. Kaiko analyst Dessislava Aubert told I-decrypt that “open interest just hit a multi-year high of $7.7 billion and funding rates are at their highest levels since early January,” meaning new capital is entering the market due to rising speculative interest as well as hedging. ETHs network is set to undergo an important upgrade next month. Named “Dencun,” it aims to solve scalability problems with the blockchain. The upgrade will bring “proto-danksharding” to the network, promising to make it faster and cheaper to use via layer 2 solutions. Layer 2s, or L2s, batch together unverified transactions made on Ethereum, process them on an external network, and send confirmation back to mainnet. A number of high-profile, traditional Wall Street firms are also hoping to get a spot ETH exchange-traded product approved. Such a fund, if given the green light