Ethereum, the world’s second-largest cryptocurrency once again gives tough competition to its competitor Bitcoin. Ethereum price again rises up to 6% crossing the big resistance of $3000 levels.
Bitcoin also had a 3.5% jump in its price and reaches up to $42,200.In this week’s chart, Ethereum is nearly 20% which is twice against Bitcoin’s gains of 9%. Thus ETH is clearly ahead of the show against bitcoin.
From the last week, there are some shocking ETH outflows in exchanges. The cause of these outflows was due to the withdrawal of 200k ETH from the centralized exchange in one day.
Ethereum whale transactions have risen remarkably after a short break. Furthermore, the $100k plus transactions on the Ethereum network also increasing.
Ethereum 2.0 The Merge Happening Soon
The most heated topic recently is the merging between Ethereum ‘execution’ layer and the ‘consensus’ layer.
The most anticipating event in the crypto space is the Ethereum 2.0 launch. Moving on to the Proof-of-Stake ecosystem will lower the energy usage of the Ethereum network by 99.5% making it more eco-friendly. Moreover, it will significantly improve the Ethereum scalability for defi apps while at the same time decreasing the transaction price.