In 2024, Ethereum experienced a mix of positive and negative developments. Innovations like the Dencun upgrade reduced transaction costs, and President-elect Donald Trump supported a DeFi project built on Ethereum. However, there was also a regulatory crackdown and concerns that the SEC was targeting the ecosystem. The approval of spot ETH exchange-traded funds provided a boost, but it did not cause a significant increase in the price of ETH like Bitcoin ETFs did. Despite this, the approval of ETFs marked an important win as the SEC stopped classifying ETH as a security. The year also saw the launch of a tokenized fund by BlackRock running on Ethereum, adding to the recognition of Ethereum as an asset class. Overall, Ethereum had an eventful year, but its price performance was not as strong as expected due to rising use of layer-2 networks drawing value away from the mainnet.



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