Ethereum Founder Announces Steps To “Go Ahead” But ETH Doesn’t Have Any

Ethereum [ETH] The co-founder, Vitalik Buterin, recently commented on the next steps of the altcoin king. When you participate in 2022 Messari mainnet event Practically speaking, Vitalik said the increase was the next step after its successful translation into Proof of Stake (PoS).

At the same time, this wasn’t the first time the crypto chief had mentioned the increase. on that day to merge, as Vitalik pointed out the same. However, Vitalik seems to have expanded on the details even more than when he did it at the Merge Watch Party.

Explosion and volume

During the session, Vitalik mentioned that the increase has always been a part of Ethereum’s plans, and stuck to its roadmap. Vitalik said the increase, which aims to grow the Ethereum network, would not be a one-off event like a merger.

In addition, he believed that scaling up Ethereum was still part of the project’s plans. Vitalik also admitted that transactions may be slightly lower when Ethereum passes the bullish phase.

“Integrity aside, I would say scalability. The difference between it costing $3 to send a transaction and 3 cents to send it is the difference between blockchain being viable as an ever mainstream technology.”

Aiming for the top, still looking for crude

Despite Vitalik’s clarity, ETH does not seem to care. As ETH underperformed after the merger, ETH preferred to dip again. At press time, the coin is trading at $1,324, according to CoinMarketCap.

On the daily chart, it was noted that ETH was not able to hold on to any support it received and could lose it at its current price. Similarly, the Bollinger Bands (BB) indicators showed that volatility was very high in the region.

Source: TradingView

However, the drop in price did not stop ETH traders from seeking profits. According to Glassnode, Ethereum’s open interest in perpetual futures receipt A one-month high of $1,644,420,189.05 on the FTX exchange.

Source: Glassnode

Another good note, ETH appears to be thriving in the ETH 2.0 segment. The leader in the chain also revealed an increase in deposit contracts on ETH 2.0. at the time ofWrites , Total invested value It reached an all-time high (ATH) of 13,937,399 ETH.

Source: Glassnode

Even with the current on-chain performance, most ETH investors expect this to improve price momentum. But anticipating this part may be too soon. Although a change of direction is never out of the question.

Leave a Reply

Your email address will not be published. Required fields are marked *