Ethereum and eTukTuk are two hot cryptocurrencies to keep an eye on this week. While Ethereum has crossed the much-awaited $4000 mark, the eTukTuk presale is on its way to the $2 million milestone and an early sell-out.The FOMO-fuelled crypto market has sent the network activity on Ethereum to wild heights. While on the one side, it leads to exorbitant transaction costs, the accompanied price surge favours investors and traders.
The upcoming Dencun upgrade is one of the major catalysts of ETH price action this week. Slated for March 13, the upgrade will bring more scalability, efficiency and security to the network in the short term. It introduces the concept of ‘proto-danksharding’ as a way to reduce the cost of transactions.One of the key crypto sectors that have profited from the pre-halving rally is meme coins.
The price surge driven by the upgrade is likely to slow down after March 13. The rising transaction costs have limited the accessibility of the network. The waning optimism in Ethereum ETFs is also likely to impact the price trajectory.
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