Coinspeaker
Ethereum Nears $3K as Market Anticipates Spot ETF and Dencun Upgrade

The price of Ethereum (ETH) soared close to the $3,000 mark on Monday, fueled by anticipation surrounding the approval of a spot Ethereum Exchange-Traded Fund (ETF) by the US Securities and Exchange Commission (SEC) and the upcoming Dencun upgrade on the mainnet.

Ethereum’s Market Performance

As of the latest data, ETH is trading at $2,912, demonstrating a 9.5% increase over the past 7 days, with a market capitalization of $349 billion. The surge in price has also had a positive impact on related assets such as Lido Staked Ether (STETH), which saw gains of 3.88% over 24 hours, and Ethereum 2.0 staking tokens, which experienced a collective increase of 5.4%, according to data from CoinGecko.

Markedly, Ethereum contributed only a relatively small portion of the 24-hour liquidations, indicating stability amidst its upward trajectory. CoinGlass data reveals that Ethereum accounted for $36.05 million of liquidations, including $13.28 million in long and $22.77 mil...