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- Ethereum continues to be the second most dominant cryptocurrency by market cap, and its technological advancements might further help it to witness further adoption.
- A pseudonymous analyst called CroissantETH highlighted the points that might help the network to grow more and more.
- One of the reasons why ETH has witnessed interest from institutional entities can be the potential introduction of staking pools on ETH, he highlighted along with other things.
Ethereum (ETH) trend is higher as it reclaimed the mark of around $3,500. It is currently the third-best performer in the top ten by market cap.
At the time of writing, Ethereum (ETH) is trading at $3,463.16 with a market cap of $416,248,959,918 and maintains the second-largest crypto position by market cap.
In general, the crypto market has been trending upwards. A factor for this that QCP Capital considers is that it believes the upwards price action comes from the optimistic reaction from the US Federal Reserve’s increase in interest rates.
Furthermore, the financial institution began to tighten its monetary policy and signified a hike in rates. In response to the FED’s actions within expectations, Bitcoin and Ethereum acted upward.
Ethereum’s (ETH) price seems to be benefiting from the integration of the Merge. The event is ready to combine Ethereum’s Execution layer with its consensus layer and entirely unlock the network’s Proof-of-Stake model’s potential.
And the crypto asset is all set to reduce its energy consumption and benefit from the PoS model’s advantages. An analyst, namely CroissantETH (pseudonym), attempted to take down these fundamental changes in the network. Further attempting to point out the new trends to watch as ETH 2.0 comes into the frame.
He highlighted that one of the reasons ETH has witnessed interest from institutional entities could be the potential introduction of staking pools on ETH. And the benefits of staking can potentially increase the ETH’s adoption. And the introduction of staking derivatives could provide users with further incentives to lock ETH.
He further signifies that Cross-chain stuff is cool, but how about cross-rollups tooling. And that this is something that people have not watched closely. DApps that bridge the gap between optimistic and zkRollups have a great future.
The pseudonymous analyst also talked about other trends that can take ETH to a new era of adoption and new use cases.
In the lengthy Twitter thread, the analyst talked a lot about Ethereum and its potential, and it is to look forward to Ethereum emerging in the coming future, given its upgrade plans.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
