2024 was a notable year for Ethereum, marked by substantial innovations and regulatory challenges. Despite not reaching new price highs like Bitcoin, Ethereum saw major upgrades, such as Dencun, which significantly reduced transaction costs. However, the year was marred by a regulatory crackdown, beginning with investigations into the Ethereum Foundation by the SEC. High-profile cases included the litigation against Consensys, the developer of the MetaMask wallet, which challenged the SEC’s stance on the classification of ETH as a security. In a surprising turn, the SEC approved spot ETFs for Ethereum, lifting concerns about its security status and providing Wall Street recognition, although ETH's price did not experience the significant surge seen with Bitcoin. Additionally, support from President-elect Donald Trump for a DeFi project built on Ethereum highlighted political interest in the blockchain. While layer-2 networks have streamlined processes on Ethereum, concerns arose over their impact on the mainnet's value. Overall, 2024 was a mixed year for Ethereum, blending technological advancement with regulatory scrutiny.

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