Ether price returns to $4K for the first time since March
Ether is once again trading above $4,000 following months of disappointing price action and negative sentiment.
The price of Ether (ETH) has broken past the $4,000 price level following months of lackluster price performance — reclaiming levels not seen since March 2024.
The release of the Dencun upgrade in March 2024 dramatically lowered fees for Ethereum layer-2 scaling networks, causing Ethereum layer-1 revenues to collapse by 99%.
Decreased fees translated into reduced demand for the smart contract cryptocurrency. However, network fees began to rebound in September 2024.
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Author: Vince Quill
