Feb 20, 2024

Amid excitement around the spot bitcoin ETF approval, CoinDesk's Jennifer Sanasie presents three major Ethereum ecosystem stories to watch in 2024, including the much-anticipated Dencun upgrade, steam around the spot ether ETF narrative and Ethereum's dominance in decentralized applications, NFTs, and tokenized assets.

Video transcript

From the Den Kon upgrade to a potential spot. E ETF. Here's what you need to know about the Ethereum ecosystem this year. Welcome to this special Ethereum edition of coin desk daily. I'm your host, Jen Sei. The excitement around the spot. Bitcoin ETF approval has put Bitcoin in the spotlight but it's not all about Bitcoin. We're here with three major Ethereum ecosystem updates that you should be watching in 2024 1st, the dank upgrade, Ethereum developers set a target date of March 13th for the long awaited denon upgrade. Officially triggering the countdown to the blockchains. Biggest change since April 2023 primarily known for its proto dank sharking feature that this upgrade aims to reduce cost for transactions on auxiliary layer two networks built on top of Ethereum by providing a dedicated space for data storage as the system upgrade is right around the corner. Coinbase wrote in a newsletter that quote, it could be poised for a breakout year and there are reasons to be even more optimistic about its near term future and quote. One of those reasons is the steam around the spot Ether ETF narrative. The sec postponed spot Ether ETF applications from a series of asset managers in the United States. But financial giants are hopeful that Ether will rise in the coming months as applications are expected to be approved. Standard Chartered Bank said in a January note that they expect e prices to track or outperform Bitcoin as we approach May 23rd the day when the SEC must decide on Vanex application. Franklin Templeton, Blackrock, Fidelity arc and 21 shares. Gray scale Invest Galaxy and hashtags have all submitted applications for the product in recent months. Ether underperformed Bitcoin in the year of 2023. But analysts are hopeful for a bullish year ahead for the ecosystem. An annual report from etc group shows that Ethereum remains a dominant chain for building decentralized applications, NFTS and tokenized assets. That's it for coin desk daily, get more updates on coindesk.com and we'll see you next time.

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