Ethereum Price Set to Hit $5000 After Halving and Dencun Update, Altcoins Surge on Bullish Momentum

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The recent increase in the price of Ethereum (ETH) is largely due to speculation about possible approval from the SEC for a first-spot Ether ETF. In Addition, Technical developments such as the upcoming Dencun update are also contributing to the bullish sentiment in the Ether market, which will further fuel the price to hit $5000.

Ethereum’s Halving And Dencun Upgrade Is a Step Toward Altcoins Surge

The research analyst, William Ogden Moore, on 23 February, highlighted in a report that the recent surge in Ether (ETH) prices could be attributed to Ethereum’s Dencun Update. This technological improvement has catalyzed the rallies witnessed in the price of ETH.

Ethereum (ETH), the second-ranked crypto-data from CoinMarketCap, has surged by 34% in the past 30 days and by 28% at the beginning of 2024, as reported on TradingView.

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Ethereum’s Dencun update, scheduled for March 13th, 2024, represents a major step forward that promises to uplift and reduce transaction costs, allowing users to spend fewer gas fees and make more transactions on ETH’s mainnet and layer-2 scaling solutions like Arbitrum, known as Ethereum Halving.

In Kerel Verwaerde’s view, the Dencun upgrade is a major step forward in making Ethereum more scalable, it will consist of two parts (Halving), focusing on enhancing the implementation and consensus layer. To maintain its position as the leading utility blockchain and can remain the dominant force in the crypto space.

“Looking at the growth we’ve experienced in Layer 2 over the past year, it is evident that if we can further reduce costs, our infrastructure will be ready to grow strongly once more,” Jesper Nielsen, Chief Executive Officer of Northstake.

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These costs can be reduced by as much as an order of magnitude or more; according to Nielsen – he stated “Imagine that these costs could be reduced by 10 times to just $8.5 million per year”

The next stages of its progress — the Verge, the Purge, and the Splurge — became closer as Ethereum’s Electra hard fork started taking its shape. Expected to go live in late 2024, Electra will enhance validator deposits and change the rules of execution layer functions.

Algotech’s Becomes a Leading DeFi Platform After Successful Presale

Algotech (ALGT) is a decentralized trading platform for cryptocurrency that empowers crypto traders with advanced algorithms. Additionally, ALGT has a robust infrastructure.

Algotech’s journey started with a successful private seed sale, which saw the team raise a whopping $1.1 million in 2 days. This journey progresses as Algotech launches Stage 1 of its public presale, with ALGT trading at $0.04. As the presale progresses, Algotech aims for $0.12 by the end of the public presale, marking a potential 200% increase from its initial price of $0.04. 

This promise of significant growth propels Algotech as a top crypto to invest in 2024. However, experts believe Algotech will go on before getting listed on major exchanges.

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