Ether (ETH) reached a new all-time high on Tuesday. The next big update called “Berlin” is planned for April 14th.
The ether price climbed to $ 2,293 on Tuesday, a value like never before. The coin’s market capitalization rose to over $ 250 billion for the first time. For comparison: Bitcoin’s market capitalization (BTC) was only six months ago, i.e. at the end of October 2020, at the same level.
Ether is up 1,328 percent. He was able to maintain this level despite concerns about transaction fees on the Ethereum network. In February, the average Ethereum transaction fee was at an all-time high of $ 38.21 Data from Bitinfocharts. This means that ether has generally become unsuitable as a transaction currency.
But investors apparently have hope that Ethereum fees will fall. In particular, the planned network upgrade, which is intended to radically change the way in which fees are paid, is a contributing factor. The upgrade called “London” slated for this summer has drawn the ire of Ethereum miners. Because in it is intendedto burn some of the fees normally charged by mining facility operators.
The upgrade planned for Wednesday called Berlin is expected to have less of an impact in the short term. But it will pave the way for London and make four major changes to the current network. A full technical listing these changes can be viewed on the official release page. A number of changes are being made to the blockchain to reduce the cost of certain types of transactions. A new transaction envelope should also make it easier to combine several transactions into a single transfer.
Other coins also hit a new all-time high on Tuesday. Bitcoin also hit a new all-time high of over $ 63,000. The next largest coins by market capitalization, immediately behind Bitcoin and Ether, have also posted prices never before reached, including Binance Coin (BNB) and XRP.