Recently, Ethereum (ETH) has shown a rise and managed to bypass Bitcoin in terms of the price increase. This is due to the upcoming technical update, which should increase the value of both the Ethereum network and cryptocurrency.
Buterin: plans and forecasts
The update, also referred to as, has been delayed several times. Initially, the launch of Ethereum 2.0 was scheduled for January 3, 2020 — the day of the 11th anniversary of Bitcoin, but the developers decided to postpone it to the middle of 2020. Later the developers said that the update would be deployed on July 30, 2020 — the day of the fifth anniversary of the launch of Ethereum.
One of them is the Optimistic Rollup second-stage solution, which “theoretically may be scaled to more than 1,000 transactions per second” even inside the current Ethereum network.
Ethereum blockchain expansion
The price of Ethereum shows stable growth, it reached $245 on June 24, 2020. Summary in “Technicals” for a 1-month period strong Ethereum BUY action. Also, the planned ETH burning mechanism will further reduce the supply of coins in the market. Accordingly, the rate of the second cryptocurrency will grow.
The increase of the ETH rate should also be facilitated by the fact that now it has become much easier for retail beginner investors to use fiat currencies to purchase cryptocurrencies.
The forecasts of the crypto community experts contribute a lot into the opinion “ Ethereum is a good investment “:
- OpenZeppelin (@OpenZeppelin) April 7, 2020
According to the co-founder and head of Kenetic Capital, Jehan Chu, even though the update has been developed for 5 years, during this time not a single cryptocurrency was able to take the position of Ethereum.
Originally published at https://coinjoy.io.