The rise of Ethereum: The rate reaches its maximum a year before the Dencun update

Ahead of the planned Dencun update, Ethereum is once again approaching peak values last seen back in December 2021.

On March 13, 2024, the price of Ethereum (ETH) soared to $4,083, setting a new all-time high that had not been reached in months. This rapid growth occurred shortly before the expected Dencun update.

Ethereum currently continues to trade above $4,060, up 14.5% over the past week, according to TradingView data.

It is interesting to note that the relative trend of Ethereum to Bitcoin (BTC) shows a decline after a surge in early March 2024.

This phenomenon is likely due to the sharp increase in the price of Bitcoin, which also set a new all-time high on March 12, 2024.

The increase in Ethereum price is likely due to the upcoming Dencun update, scheduled for March 13, 2024, at approximately 15:55 Kyiv time (13:55 UTC).