Investors might consider buying in May to capitalize on potential gains during the quieter months.
The cryptocurrency market is known for its volatility, and the "sell in May and go away" adage is traditionally applied to stock markets to avoid the summer doldrums.
Ethereum, the second-largest cryptocurrency by market capitalization, continues to be a strong contender in the crypto space.
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Its significance goes beyond being a digital currency; it is the backbone of the decentralized finance (DeFi) ecosystem and countless decentralized applications (dApps).
Ethereum's transition to Ethereum 2.0, which began in December 2020, aims to improve scalability, security, and sustainability.
The recent upgrades have significantly reduced gas fees and increased transaction speeds, making the network more efficient and attractive to developers and users alike.
The growth in these sectors drives demand for ETH, as users need it to pay for transactions and services on the network.