Grayscale: Ethereum Price Rise Driven by Expectations of Dencun Upgrade

Grayscale Investments, an asset management company, stated in a recent report that the "recent price performance of Ethereum reflects market expectations for the upcoming Dencun upgrade next month." In addition to the potential of the upcoming Dencun upgrade and the approval of a spot Ethereum ETF, the Grayscale report highlights "net deflationary supply" and "network revenue generation" as other optimistic factors. The report states that Ethereum can become more competitive in capturing more smart contract business. Analysts wrote, "If Ethereum can become more competitive in throughput and cost, it can position itself for smart contract applications that require a high level of security and censorship resistance, such as stablecoins or tokenized financial assets."