How Long Does It Take For The Price of Ethereum Coins to Rising to $4,000?
2022-03-28 10:23:17
Will The Price Of Ethereum Go Up To $4K?
Ethereum coin, the cryptocurrency that once ranked second in market capitalization in 2021 had hit a new all-time high price of $4,878 in mid-November. Leaving the then No. 1 Bitcoin with a market share below 40% and taking nearly 20% of the market at that time with a market valuation of $557 billion.
However, all of this is now a history of Ether's former surge. The current price of ETH is $3,131 with a market share of 18.72%. Over the past week, the price of the Ether cryptocurrency has risen by 12.39%. Its market cap is $375.24 billion and the total volume of the currency in circulation is now $120.10 million. 24-hour volume is $16.85 billion. (Source: Gate.io March 25)
The current price of the Ethereum coin has started to rise after nearly 10 days of a slump. However, it still needs some effort and time to break the $4,000 mark. What will happen next to affect the price fluctuation of the Ethereum coin?
1. Ethereum Coin Burning
According to the latest data, the total value of Ether network ETH destruction has exceeded $6 billion, a record high of $6,272,475,691.27, with a destruction volume of 2015236.3 ETH. In addition, the current Ether network Base fee is 47.1 GWei, with a block utilization rate of 50.9%.
2. ETH Proposes Improvements to EIP-4844
Ethernet co-founder Vitalik Buterin recently proposed an improvement to the blockchain network, known as Proto-danksharding, also known as EIP-4844. This is a technical upgrade that helps improve the network by organizing large transaction data to handle smaller bits of data. Such an upgrade will help with Ether's transaction fees and also help improve its scalability features.
3. Ethernet 2.0 Upgrade
After 2022, the Ether community will stop using "Eth1" and "Eth2" and instead use the "execution layer" and "consensus layer " to describe the upcoming Ethereum upgrade. This change signifies that the Ether core team is making final preparations for the Ether upgrade.
According to the Ethernet upgrade roadmap, the Beacon Chain and the current Eth1 merger will eventually come in mid-2022, while starting the difficulty bomb, PoW miners will be eliminated from the game, and the Ethernet consensus mechanism to PoS. After that, the rewards belonging to miners will be eliminated, and the Ethernet tokens will enter the real sense of deflation.
Take for example the EIP-1559 upgrade that occurred in August 2021, when the entire crypto industry bottomed out, driven by ETH, and the subsequent "Bitcoin Futures ETF", which saw Bitcoin break out to a high of $69,000.
As Ether continues to upgrade, its cryptocurrency properties and underlying application properties will be continuously strengthened. All these moves will affect the direction of the current Ether currency price and are attracting more investors to buy Ethereum coins. Because after the completion of Ether upgrade, will its currency price breakthrough 4k still be far away?
Ethereum coin, the cryptocurrency that once ranked second in market capitalization in 2021 had hit a new all-time high price of $4,878 in mid-November. Leaving the then No. 1 Bitcoin with a market share below 40% and taking nearly 20% of the market at that time with a market valuation of $557 billion.
However, all of this is now a history of Ether's former surge. The current price of ETH is $3,131 with a market share of 18.72%. Over the past week, the price of the Ether cryptocurrency has risen by 12.39%. Its market cap is $375.24 billion and the total volume of the currency in circulation is now $120.10 million. 24-hour volume is $16.85 billion. (Source: Gate.io March 25)
The current price of the Ethereum coin has started to rise after nearly 10 days of a slump. However, it still needs some effort and time to break the $4,000 mark. What will happen next to affect the price fluctuation of the Ethereum coin?
1. Ethereum Coin Burning
According to the latest data, the total value of Ether network ETH destruction has exceeded $6 billion, a record high of $6,272,475,691.27, with a destruction volume of 2015236.3 ETH. In addition, the current Ether network Base fee is 47.1 GWei, with a block utilization rate of 50.9%.
2. ETH Proposes Improvements to EIP-4844
Ethernet co-founder Vitalik Buterin recently proposed an improvement to the blockchain network, known as Proto-danksharding, also known as EIP-4844. This is a technical upgrade that helps improve the network by organizing large transaction data to handle smaller bits of data. Such an upgrade will help with Ether's transaction fees and also help improve its scalability features.
3. Ethernet 2.0 Upgrade
After 2022, the Ether community will stop using "Eth1" and "Eth2" and instead use the "execution layer" and "consensus layer " to describe the upcoming Ethereum upgrade. This change signifies that the Ether core team is making final preparations for the Ether upgrade.
According to the Ethernet upgrade roadmap, the Beacon Chain and the current Eth1 merger will eventually come in mid-2022, while starting the difficulty bomb, PoW miners will be eliminated from the game, and the Ethernet consensus mechanism to PoS. After that, the rewards belonging to miners will be eliminated, and the Ethernet tokens will enter the real sense of deflation.
Take for example the EIP-1559 upgrade that occurred in August 2021, when the entire crypto industry bottomed out, driven by ETH, and the subsequent "Bitcoin Futures ETF", which saw Bitcoin break out to a high of $69,000.
As Ether continues to upgrade, its cryptocurrency properties and underlying application properties will be continuously strengthened. All these moves will affect the direction of the current Ether currency price and are attracting more investors to buy Ethereum coins. Because after the completion of Ether upgrade, will its currency price breakthrough 4k still be far away?
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