Ether Surpasses $4,000 for First Time Since December 2021

For the first time since December 2021, Ether (ETH) has finally crossed the $4,000 mark again.

by Faruk Imamovic
Ether Surpasses $4,000 for First Time Since December 2021
© Getty Images/Jack Taylor

For the first time since December 2021, Ether (ETH) has finally crossed the $4,000 mark again. This big moment isn't just showing how tough Ether has been; it's also proving it's becoming more popular with folks looking to invest.

Starting at $3,873 on March 8, Ether's price jumped over 4% in just a day and has gone up by 74% since the beginning of the year. Thanks to this boost, it reached a new high of $4,003 on Bitstamp, according to CoinMarketCap.

This jump in price is happening just as everyone in the crypto world is getting excited about Ethereum's upcoming Dencun update and the chance that the U.S. Securities and Exchange Commission (SEC) might say yes to an Ether-based exchange-traded fund (ETF).

What's Pushing Ether Up?

The recent increase in Ether's price can be linked to a couple of big updates. First off, the Ethereum network is about to get the Dencun upgrade, the biggest change it's seen since the Merge. This upgrade includes a bunch of improvements, especially EIP-4844, which brings in "proto-danksharding." This tech tweak is going to make transactions quicker and cheaper by letting the blockchain store some data off-chain.

The launch for this is set for March 13. Another big push comes from the hope that the SEC will approve an Ether ETF soon. Even though there have been some waits because of the SEC taking its time with applications from big names like BlackRock and Fidelity, people are still hopeful.

Everyone's looking forward to the SEC making a decision on all the Ether ETF applications at once, to keep things fair, just like they did with Bitcoin ETFs. The big day for this decision is May 23. Experts like James Seyffart from Bloomberg think the SEC will move faster on these Ether ETFs than they did with Bitcoin ones.

Seyffart pointed out that May 23 is a key date to watch for Ether ETFs. Following the lead of successful spot Bitcoin ETFs, an Ether ETF is expected to draw in a lot of investment, which would help cement Ether's spot as the second biggest cryptocurrency by market value.

Looking Ahead

Ether going over $4,000 isn't just about hitting a number; it shows a strong belief in what Ethereum and its tech can do in the future. With important updates coming and the possibility of regulatory nods, Ether is in a good spot to keep growing and attracting more interest.