The Rise of Ethereum: $3,500 Just Days Before Dencun Upgrade

At the time of writing, theEthereum priceis $3,506.38, which means that ETH has gained 15% in the past week. This is the highest Ethereum has been since January 2022, when it was coming down from the late 2021 bull run. And 91% of ETH held in wallets is now in the money. That means all but 9% of ETH has appreciated in value since it was purchased, according to blockchain analytics firm IntotheBlock.

Ethereum developers are now only 9 days away from pushing the Dencun upgrade to mainnet on March 13. It's long been said that the upgrade, which will introduceproto-dankshardingto the network, will make transactions much faster and cheaper. Last week a handful of devs toldDecryptthe change will be striking, adding that this is the kind of upgrade they've been "dreaming of."

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