Ethereum Price Nears $4,000 as Upcoming Upgrade Boosts Optimism for Lower Fees and Enhanced Scalability
• Ethereum price rallied over 5% despite the broader crypto market decline led by Bitcoin • The upcoming Ethereum Dencun upgrade on March 13th is expected to lower transactions costs for Layer 2 chains • Total value of staked Ethereum has climbed to $118 billion as holders prepare for the upgrade • Dencun will enhance scalability and reduce fees for Ethereum Layer 2 protocols like Arbitrum and Optimism • Ethereum price is nearing the key $4,000 level, with bullish technical indicators like the MACD supporting further gains