Ether Poised for Comeback in 2024 as Upgrades and New Products Promise to Boost Demand
• Ether underperformed bitcoin in 2023, but analysts predict a resurgence in 2024 based on upcoming Ethereum upgrades like Dencun and potential ETH spot ETF approvals.
• Dencun aims to improve Ethereum's scalability and reduce network fees by over 90%, which could attract more developers and users.
• Several firms behind the new bitcoin spot ETFs are also planning to launch ether spot ETFs, which could bring significant institutional investment.
• Ethereum remains the dominant blockchain for decentralized apps, NFTs, and tokenized assets compared to competitors like Bitcoin.
• Ether offers additional yield opportunities like staking rewards and a deflationary token supply from fee burning.