"Ethereum Surges to 22-Month Highs Ahead of Dencun Upgrade and Potential ETF Approval"

Ethereum (ETH) reaches a 22-month high at $3,151, with open interest hitting a multi-year high and funding rates at their highest levels since early January, indicating rising speculative interest and hedging. The upcoming "Dencun" upgrade aims to address scalability issues with the blockchain, potentially making transactions faster and cheaper. Traditional Wall Street firms are seeking approval for an ETH exchange-traded product, with expectations of a spot ETH ETF approval by May, potentially driving the asset's price above $4,000 per coin.