Analysis: Decentralized finance upgrades and ETF narrative may drive Ethereum to surge in 2024.

According to BlockBeats news on January 19th, investors may reconsider Ethereum this year as it remains the leading smart contract blockchain with key upgrades underway and is widely considered a candidate for the next spot ETF in the US. Coinbase stated in its weekly newsletter that "Ethereum may have a breakthrough year ahead. Last week's Bitcoin ETF news was a boon for Ethereum, which surged to over $2,700, its highest level since May 2022. We have reason to be even more optimistic about the near-term prospects for ETH. First, several of the companies behind the Bitcoin ETF, including BlackRock and VanEck, are also planning spot ETFs based on Ethereum." Coinbase also pointed out that "Ethereum's Dencun upgrade began preliminary testing on Wednesday and is expected to implement EIP-4844 in the coming months, with some ETH observers predicting that this will help reduce network fees by 90% or more."