Ethereum has risen to $ 4000

TK Research analysts explained the reasons for the rise in the value of Ethereum ETH $2,984.56 Ethereum -5.07% Market capitalization $358.73 billion VOL. 24 hours $2.66 billion to $ 4000. The experts emphasized that this happened not only because the price of bitcoin BTC $56,683.29 Bitcoin -2.72% Market capitalization $1.12 trillion VOL. 24 hours $4.55 billion rose to new record highs. The fact is that ethereum quotes jumped before the Dencun update.

Analysts reminded that this time the developers are integrating Proto-Danksharding technology. Its goal is to reduce transaction costs at Layer 2.

The researchers emphasized that sending large amounts of data on the Ethereum network usually entails high costs. The blockchain stores this information indefinitely as part of the transaction history in the CALLDATA section. This is what makes such operations too expensive.

«To solve the problem, EIP 4844 proposed adding 512 KB or 768 KB of data space per block for Ethereum pools. It is important to note that the data will be stored for approximately 3 weeks. Due to the separate commission market and the temporary nature of transactions with large binary objects, the cost of data fusion in the network can be significantly reduced,» the experts summarized.

As of the morning of March 12, the leading altcoin was trading at $ 4,032, an increase of almost 2% per day. The total number of coins circulating on the market is $ 484.2 billion. Traders made daily trading deals worth $ 26.8 billion. Ethereum’s market share is 17.8%.