Ethereum recently reached $4,000 for the first time since December 2021, signaling a positive trend in the cryptocurrency market.

The overall market experienced a bullish surge, pushing the market cap to $2.7 trillion. However, Ethereum’s price retraced to $3,900 shortly after hitting the milestone as traders secured their gains.

ETH’s price movement reflects a broader bullish sentiment in the market, with a modest 10% increase in trading volume today, indicating that long-term investors are holding onto their assets.

Bitcoin also achieved a new all-time high of $70,000, adding to the positive sentiment in the market.

Furthermore, Ethereum-based meme coins like Shiba Inu saw significant gains, with SHIB jumping over 150% weekly.

The excitement surrounding Ethereum is partly due to the upcoming Dencun upgrade scheduled to launch next Wednesday. This upgrade is expected to enhance Ethereum’s scalability and efficiency, potentially boosting the price of ETH.

The Dencun upgrade marks a crucial step in Ethereum’s evolution, addressing some of the network’s longstanding challenges.

For more news and updates on the cryptocurrency market, continue exploring Global Crypto News.

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