Deep Tide TechFlow: Grayscale Suggests Ethereum May Take Center Stage, Dencun Upgrade and SEC Decision Approaching

According to Deep Tide TechFlow, while the focus is currently on Bitcoin, Ethereum may take center stage as the deadline for the SEC's decision on Ethereum spot ETFs approaches in May 2024.

The Ethereum "Dencun" upgrade is scheduled for March 13, 2024, and is expected to position Ethereum as a competitive force in the encrypted smart contract platform space, rivaling faster chains like Solana.

Grayscale Research believes that Ethereum's momentum is driven by upcoming developments such as the Dencun upgrade, net deflationary supply, network revenue generation, the SEC's decision on Ethereum spot ETFs, and the increasing use cases for renting out Ethereum network security features.