How will ETH 2.0 hype shape the value of the token?

How will ETH 2.0 hype shape the value of the token?
фото показано с : invezz.com

2022-4-12 16:30

Ethereum ETH/USD is a decentralized blockchain platform that is powered by its native cryptocurrency token known as Ether.

The blockchain has a reputation for its smart contracts functionality which has enabled the developments in Decentralized Finance (DeFi) and decentralized applications (dApps).

Throughout its years, it has undergone numerous developments that aim to improve its overall functionality.

The hype surrounding the Ethereum Upgrade as a catalyst for growth

The billionaire investor and entrepreneur Mark Cuban said that he is “very bullish” on the upcoming Ethereum upgrade, which will transition the network towards a higher level of energy efficiency.

The upgrade, which is known as “The Merge ” is expected to be released later this summer which makes the blockchain transition towards Proof-of-Stake (PoS), which will lead to many infrastructure improvements. 

We also covered why this merge might not be all that it seems on April 4.

The ETHIndia hackathons page on Twitter, on April 8, 2022, launched ETHIndia grants as a means of providing equity-free grants to builders on Ethereum. 

Alongside all of this, many institutional investors that have kept clear of carbon-intensive cryptocurrencies are expected to have a heightened level of interest surrounding the eco-friendly ETH 2.0 once the merge dramatically manages to lower the overall carbon footprint.

Should you buy Ethereum (ETH)?

On April 11, 2022, Ethereum (ETH) had a value of $3,172.52.

In order for us to truly be able to see what this value represents for the Ethereum (ETH) token, we will be comparing it to the all-time high value it had, alongside its performance in March.

When we go over the all-time high point of value for the Ethereum (ETH) token, we can see that it was on November 10, 2021, when the token reached a value of $4,878.26. Here we can see that, at its ATH, the token was $1,705.74 higher in value or by 53%.

Going over the performance of the token throughout the previous month, Ethereum (ETH) had its lowest point of value on March 7 at $2,462.84.

Its highest point of value, however, was on March 29, when the token increased to $3,463.46. This gives us an indication that the token increased in value by $1,000.62.

With this in mind, we can expect the Ethereum (ETH) cryptocurrency to increase in value to $3,500 by the end of April 2022.

The post How will ETH 2.0 hype shape the value of the token? appeared first on Invezz.

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