Crypto Analyzer

The Zacks Analyst Blog Highlights Marathon Digital Holdings, CME Group and BlackRock

**3 Crypto Stocks to Watch as Ethereum Brings In the Dencun Upgrade**

As the world of cryptocurrency continues to evolve and gain momentum, investors are keeping a close eye on certain key players in the market. Ethereum (ETH), the second-largest cryptocurrency after Bitcoin, has been making significant strides in 2024. With the upcoming Dencun upgrade scheduled for March 13, Ethereum is poised to introduce important changes to its blockchain ecosystem that could have far-reaching implications for the cryptocurrency market.

The Dencun upgrade is expected to enhance the efficiency of the Ethereum network by allowing it to function as a database for layer-2 blockchains to store data more effectively, reduce transaction costs, and drive mainstream consumer demand. Analysts predict that Ethereum, already on an upward trajectory, may surpass its previous all-time high and potentially reach the $10,000 mark by the end of the year.

In light of these developments, investors are looking at stocks that are closely tied to the Ethereum ecosystem. Here are three crypto stocks that have caught the attention of analysts and investors:

1. **Marathon Digital Holdings, Inc. (MARA)**: As a digital asset technology company that focuses on mining Bitcoin and Ethereum, Marathon Digital Holdings is well-positioned to benefit from the surge in cryptocurrency interest. With an expected earnings growth rate of 238.1% for the next year, Marathon Digital Holdings is a stock to watch closely.

2. **CME Group Inc. (CME)**: Operating as one of the world’s largest futures exchanges, CME Group offers various solutions for investing in cryptocurrencies like Ethereum. With an expected earnings growth rate of 2.8% for the current year, CME Group is a key player in the crypto market.

3. **BlackRock, Inc. (BLK)**: Known as one of the world’s largest investment managers, BlackRock has made significant strides in the cryptocurrency space by applying for an Ethereum spot ETF, following its success with a Bitcoin ETF. With an expected earnings growth rate of 5.2% for the current year, BlackRock is an influential player in the crypto investment landscape.

As the crypto market continues to evolve, these stocks present opportunities for investors looking to capitalize on the growth and potential of Ethereum and the broader cryptocurrency ecosystem. With the upcoming Dencun upgrade set to bring important changes to Ethereum’s functionality, these stocks are poised to benefit from the continued interest and investment in the cryptocurrency space.

For more insights and analysis on these stocks and others in the market, investors are encouraged to reference the Zacks Equity Research for the latest updates and developments in the financial markets. Stay tuned for continued coverage of the evolving cryptocurrency landscape and its impact on the broader financial industry.