The Ether (ETH) hit a new all-time high on Tuesday, and the next major update to the current path – nicknamed Berlin – is scheduled for Wednesday the 14th. April, scheduled.
The price of Ether reached a record high on the 13th. April 2,228, which is the Mint’s highest valuation since its inception. The currency’s market capitalization exceeded $250 billion for the first time. By comparison : Just six months ago, at the end of October 2020, bitcoin’s (BTC) market capitalization was at the same level.
Ether’s 1,328% growth over the past year has continued despite serious concerns about the cost of running the Ethereum network. Ethereum’s average transaction fee reached a record high of $38.21 in February, according to Bitinfocharts, making Ether generally unsuitable as a transaction currency.
But investors seem to be hoping for a reprieve from Ethereum’s expensive fees, particularly in the form of an upcoming network upgrade that will drastically change the way fees are paid. An upgrade planned for the summer in London has drawn the ire of Ethereum miners, as it plans to gobble up some of the fees normally charged to facility operators.
The network expansion is scheduled to be completed on the 14th. April in Berlin will be less effective in the short term, but it will pave the way for London to make four major changes to the existing network. Full technical details can be found on the official release page, but several changes are being made to the blockchain to lower the cost of certain types of transactions. The new transaction envelope will also make it easier to combine multiple transactions into one transfer.
Bitcoin was not the only currency to hit a new high on Tuesday, as the price of the BTC coin climbed to more than $63,000. Meanwhile, the coins right behind Bitcoin and Ether in the market cap rankings – Binance Coin (BNB) and XRP (XRP) – have also hit new highs in the past 24 hours.
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