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The price of Ether , the second largest cryptocurrency by market cap, could soar to $10,000 or even higher this year despite the asset being overshadowed by Bitcoin in the past months. These were the words of Juan Leon, crypto research analyst at asset manager Bitwise.
Proto-danksharding aims to reduce storage demands by using temporary storage space for higher transactional throughput. This will allow access to off-chain data, reducing the transaction costs on layer-2 networks by 10x or more. Both the Shapella and Dencun upgrades are major steps in Ethereum’s transition from a Proof-of-Work consensus mechanism to a Proof-of-Stake network.
Several asset management firms, including BlackRock, Fidelity, Invesco, Galaxy Digital, VanEck, and Ark Invest, all of which issued the new spot Bitcoin ETFs, have submitted proposals to launch similar products for Ethereum. However, the U.S. Securities and Exchange Commission hasThe Bitwise analyst thinks the odds of spot Ethereum ETF approval are not as high as they were for Bitcoin ETFs, speculating there is a 50% to 60% chance they may be greenlighted.
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