Ethereum in Focus: Price Surge, Institutional Bets, and Network Upgrades

Ethereum is making waves with a surge in institutional interest as Franklin Templeton files for a dual crypto ETF. Meanwhile, Vitalik Buterin’s new project signals a shift in network development focus.

Stay updated on Ethereum’s price trends, technical analysis, and the latest news impacting the cryptocurrency giant.

Recent Ethereum News

• Ethereum is launching Devcon SEA Community Hubs to foster discussions and activations around the Ethereum ecosystem.
• Visual epic testing has been implemented on ethereum.org for improved stability through better testing.
• The layer-2 ecosystem is experiencing rapid growth, with major players like Coinbase and Worldcoin entering the space.

Franklin Templeton Files for Dual Crypto ETF

Leading asset manager Franklin Templeton seeks a foothold in the U.S. crypto ETF market with a new filing for a “FRANKLIN CRYPTO INDEX ETF” including Bitcoin and Ethereum. This follows their existing separate Bitcoin and Ethereum ETFs, which attracted $445 million but underperformed compared to competitors.

The SEC’s decision on this filing, and a similar one from Hashdex, will be crucial for shaping the future of institutional crypto adoption. Approval could give Franklin Templeton a competitive edge and open the door for more cryptocurrency ETFs in the future.

Vitalik Buterin Pursues Decentralized Network Development

Ethereum co-founder Vitalik Buterin has registered a new domain name, “dacc.eth,” hinting at his focus on “defensive accelerationism.” This concept prioritizes proactive development of cybersecurity, privacy protection, and healthier governance, potentially opposing Silicon Valley’s “effective accelerationism.”

Buterin’s focus aligns with his long-standing advocacy for decentralization, privacy, and user protection. Ethereum is actively working on network upgrades like EIP 1559 and Pectra to enhance scalability, security, and user experience.

Ethereum Price Prediction

Analysts forecast a bullish outlook for Ethereum, with a potential high of over$6,800 by the end of 2024. Long-term predictions suggest a range of $6,800 to $8,100 in 2025 and $21,000 to $23,400 by 2030.

Ethereum Technical Analysis

The current price of $2,667.3 suggests a slight recovery, but the overall trend remains bearish. Consolidation and low RSI on the daily chart indicate a possible near-term rebound if buying pressure increases.

The 4-hour chart shows a potential breakout, with resistance at $2,800 and support around $2,400. Key factors to watch include confirmation of a breakout direction and overcoming the $2,800 resistance level.