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Ethereum’s updates and developments remain in the limelight every time. Most of the time, Vitalik Buterin, the co-founder of ETH, remains in the headlines for suggesting the advantages and disadvantages of the updates.
Vitalik Buterin initiated the conversation over the updates on his ‘X’ account. He noted, “Going beyond scaling, applications that are built today need to be built with “2020s Ethereum” in mind.”
Buterin discussed the Dencun hard fork, highlighting that Ethereum entered a new phase and acknowledged the existence of “blobs” while asking, “Where do we go from here?”
The Dencun hard fork has been activated, and thanks to Blobscriptions, the blob fee markets are now in “price discovery mode”, said Vitalik Buterin in his post. However, it is primarily believed that the Blobscriptions have brought a dynamic element to the gas fees of Ethereum and have also backed the increased and improved transaction speed.
He praised Ethereum Improvement Proposal (EIP) 4844, which is clearing ways for the scalability and enhancement of the network speed.
“I argue that now that the merge and EIP-4844 are done, we are decidedly on the right side of the S-curve. Further L1 changes will be meaningful and significant but relatively milder,” Buterin said.
The post adds, “It has been well-understood for years that the future of Ethereum scaling depends on rollups backed by data space secured with data availability sampling, EIP-4844 is a key change that lays the groundwork for this future.”
Back-to-back updates and the most talked about cryptocurrency, Ethereum, have surged over 95.04% in the past 52 weeks.
Since the past few months, the hype and discussion of Ether spot ETF have stirred the market, which is claimed to be the primary reason that pumped ETH price.
Other News
As per available information, the ‘X’ platform will have no cryptocurrency integrations yet to be launched.
However, one needs proper regulatory approval and a license to add such services affiliated with cryptocurrencies. It is crucial to note that ‘X’ has recently secured a key Check Sales and Money Transmitter license in Louisiana.
According to investment firm Kerrisdale Capital, there may be a few reasons for investors to gain exposure to BTC, as a crowd of companies secured regulatory approval in January 2024.
Kerrisdale Capital highlighted while talking further, “The days when MicroStrategy shares represented a rare, unique way to gain access to Bitcoin are long over.”
It is crucial to note that MSTR and other companies have also surged significantly following the growth of Bitcoin and other tokens prices.
Market Price Update
According to TradingView, when writing about the cryptocurrency market capitalization, it was $2.565 trillion, but it lost $11.797 billion. The market cap grew 22.99% in the past 30 days and 142.95% in the past six months.
Dogwifhat (WIF) added 16.34% to its price in the past 24 hours which makes it the intraday gainer, followed by Litecoin (LTC) 9.19%, Celestia (TIA) 9.16%, Bitcoin Cash (BCH) 8.68%, Filecoin (FIL) 7.82%, Helium (HNT) 6.16% and Stacks (STX) 5.86%.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
