Coinbase: Ethereum may have a breakthrough year, optimistic about its near-term prospects

According to analysts, investors are likely to take another look at Ethereum this year as it remains the leading smart contract blockchain, has key upgrades underway and is widely seen as the next candidate to potentially get a spot ETF in the U.S. By. Coinbase said in its weekly newsletter: “Ethereum could have a breakout year. Last week’s news of a Bitcoin ETF was a boon for Ethereum, which briefly surged above $2,700, reaching its highest level since 2022. Highs since May. There are reasons to be more optimistic about ETH’s near-term prospects. First, several of the firms behind Bitcoin ETFs — including BlackRock and VanEck — are also planning Ethereum-based spot ETFs.” Coinbase notes: “Ethereum’s Dencun upgrade, which began preliminary testing on Wednesday, is expected to implement EIP-4844 in the coming months, which some ETH observers predict will help reduce network fees by 90% or more.” (CoinDesk )