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TL; DR
- Ethereum (ETH) has finally managed to return to its second-largest capitalization position after spending a month and a half in the shadow of XRP.
- The project involves a busy month as there are several forks that the Ethereum network will undergo in mid-January.
After almost two months of being in third place in the coin market, Ethereum (ETH) has finally made his comeback. Today, January 2, ETH managed to overcome XRP as the second largest cryptocurrency.
For months, the encrypted community has speculated about the future of ETH, stating that the glory days of the currency are over. Others have remained convinced that ETH will recover, and while taking the place from XRP is a significant milestone, it could only be the first step for ETH, in anticipation of a hot January.
From now on, Ethereum appears to be advancing at a steady pace, with the current ETH price of $ 150 per currency, having seen an increase of 8% in the last 24 hours and more than 80% in two weeks. The market capitalization of Ethereum is $ 15.6 billion, while that of Ripple is $ 14.9 billion.
What does the short future hold for Ethereum?
The Ethereum community remains optimistic about the future of money, and so far their hopes are apparently coming true. Ethereum is preparing for an intense month of January, since there are several forks that the coin should have.
The three most significant are planned for the next two weeks and are as follows:
- 11 January – Classic Vision Hard Fork
2. 12 January – Ethereum Nowa fork
3. January 16 – Forcella di Costantinopoli
The Classic Vision Hard Fork is expected to provide all ETH holders with 3 ETCV coins for each ETH that coin holders own in their wallets. The Nowa Fork will grant ETH holders an ETN currency for each ETH in possession of the coin holders, while the Forcella di Costantinopoli, which may also occur before January 16th, remains the most significant, as it will play an important role in the transition of Ethereum to the PoS protocol.
Hard forks to improve the ETH ecosystem
Ethereum is responsible for the growing popularity of dApps and smart contracts, and has revolutionized the creation of tokens by allowing other tokens to develop on its blockchain.
With several hard forks almost ready to run, investors are wondering what to expect. While forks can be useful to Ethereum, there is always the danger that they will weaken the network by dividing into new currencies. The possibility is quite real, and the incident that revolves around the BCH gallows in mid-November is still fresh in investor memory.
Having the same type of accident would make it very difficult, if not impossible, for Ethereum to manage the competition. Even if forks occur without conflict, it is still almost impossible to predict potential consequences, especially when it comes to long-term forecasts. Experts' forecasts state that significant volatility can be expected in the days following the forks.
For now, there are no certainties and most of the new development will be known after the forks will take place. For now, at least, Ethereum is doing pretty well, and the new year started on a positive note once again.
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