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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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The 3000 Dollar Ratio in Ethereum Became 30 Percent: Price Said It Will Rise with These! - Coin Bulletin
While important developments that will affect the price of Ethereum (ETH) are expected in the upcoming period, an analyst believes that the possibility of an increase and reaching $3,000 has strengthened slightly.
The upcoming Pectra update for Ethereum could enable the network to compete with rivals like Solana (SOL) by improving transaction speed and staking mechanisms. Derive.xyz founder Nick Forster argued that these developments could have a positive impact on the price of Ethereum.
Forster pointed out that the underlying infrastructure of Ethereum is strong, emphasizing that the Pectra update will be implemented on April 8th, increasing the network's transaction speed and enhancing the staking mechanism. He said these improvements will make the Ethereum ecosystem more efficient.
Rise in Ethereum Price and Possibility of Reaching $3,000
Forster expressed that raising Ethereum founder Vitalik Buterin's gas limit by 10 times will pave the way for more advanced applications and security. In addition, Ethereum Foundation's investment of $120 million in DeFi projects was considered a critical move in terms of increasing institutional interest. Led by Vivek Raman, leader of the ETHrealize project, the integration of traditional financial institutions into the blockchain world is aimed to be accelerated.
Forster noted that there is an increased likelihood of Ethereum price rising above $3,000 by the end of the quarter compared to last week. According to him, this probability has increased from 28% to 30%. The steps taken in the Ethereum ecosystem and the upcoming Pectra update are believed to potentially trigger a new wave of price increase in Ethereum.