ETH Has Been Performing Well Lately - 58% Increase This Month
You must be aware of the Ethereum Merger, in which the Baecon Chain and the Ethereum Blockchain will be combined to offer superior scalability and a proof-of-stake algorithm. The price of ETH has been rising recently, and it has been performing admirably on its own for a while. What does it indicate that there is a legitimate competition to dethrone Ethereum from the list? You may already be aware of Ethereum's scalability issues and high transaction costs, but that information is quickly becoming outdated. Ethereum is eager to dethrone Bitcoin, while other projects are eager to dethrone Ethereum. Therefore, Bitcoin is making every effort to maintain its position.
At the time of writing, the price of ETH is $1,697, after hitting $1,784 few hours ago this represents an increase of more than 58% this month. Its progress toward reaching half of its all-time high price is quite astounding. Recently, bitcoin has experienced a pump, but you cannot compare bitcoin to that. But let's wait until the end of the month to see how the market responds. Since we are all Oliver Twist in this situation because we want more, I sincerely hope to see the cryptocurrency market cap rise above $1 trillion for a very long time.
Given that the world has been plagued by perpetual inflation, now might be the ideal time to invest in crypto assets. Returning to Ethereum, it is anticipated that the majority of ETH holders will be extremely enthusiastic about this merger for a variety of reasons, not the least of which being the fact that anyone with 32 ETH can become a validator by staking those 32 ETH and earning. This makes mining ETH and earning money with it easier and lower, and let's not forget that it's also better for the environment. Making Ethereum significantly more efficient than it was previously, and don't worry about the supply because a recent upgrade has been put in place to control that.
The bears have been hurting the whole crypto market. It's good to see some of these tokens increase in value; Tron, for instance, has been performing well recently, it's currently trading at $0.06943 after hitting $0.072 few hours ago. Despite the fact that many believe we are merely seeing another bull market, is this really the case? Possibly just a bull trap As a long-term investor, I am undoubtedly here to enjoy the ride, and I predict that shortly, ETH will reach $2,000. And perhaps $3,000 before the year is out.
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This is saddening but I believe price will recover sooner than we expect