Ethereum (ETH) is setting its sights on the $3,000 mark as the Dencun upgrade inches closer. According to data from TradingView, Ethereum’s price has exceeded $2,980 in the last 24 hours, up over 27% year-to-date. This milestone marks Ethereum’s most triumphant return to the $2,900 range since May 2022.

This surge in Ethereum’s valuation is largely attributed to a confluence of positive market developments and speculative anticipation surrounding the potential approval of a spot Ethereum exchange-traded fund (ETF).

According to data from SpotOnChain, a whale has recently amassed a staggering 54,721 ETH, valued at over $150 million, through transactions on Binance and the decentralized exchange 1inch, averaging a purchase price of over $2,845 per ETH.

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Author: Vivian Nguyen

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