The Ethereum 2.0 upgrade, transitioning from Proof-of-Work to Proof-of-Stake, aims to enhance scalability, security, and sustainability. Its progress, including milestones like The Merge in 2022 and the Dencun upgrade in 2024, has influenced ETH’s price variably. Reduced issuance and energy efficiency post-Merge sparked optimism, yet price reactions have been mixed due to market conditions and delays. Lower gas fees and higher transaction capacity may boost adoption, potentially driving demand and ETH price upward long-term. However, short-term volatility persists as macroeconomic factors and investor sentiment interplay with upgrade developments.