Ethereum (ETH) rose 9.72% last week without breaking the $ 2,000 psychological price during intraday trading. ETH was priced at $ 2,056 as the second-largest cryptocurrency continues to gain momentum.
Market analyst Lark Davis believes the upgrade to Ethereum 2.0 will result in a 90 percent daily emission reduction from 12,800 to 1,280. He explained:
“Another very important aspect of the merger is that ETH’s daily emissions will be reduced by 90%. Basically from 12,800 days in 1280 days. Annual inflation from 4.3% to 0.43%. This equates to 3 Bitcoin halving, and is only months away. “
Ethereum 2.0, also known as Beacon Chain, was was launched December 2020 and was seen as a game changer seeking to transfer the current employment certificate (POW) consensus mechanism for the contribution quota system (POS).
Davis also noted that Ethereum will experience the “Triple Halving” section as part of the ETH 2.0 upgrade, which will be a very significant financial event for property prices in the coming years.
Ethereum whales hold a cumulative 60.52 million ETH
By for meter provider Santiment:
“Ethereum whales, with 10 to 1 million ETHs in their wallets, now own a total of 60.52 million coins. This is the highest amount held at this level in five weeks and represents an accumulation of 1.65 million ETHs over the last 6 days. “
Therefore, ETH whales continue to invest in this asset, indicating a high level of trust.
Ethereum has made headlines based on its significant steps. For example, ETH has had active The return on investment (ROI) this year is 171% compared to technical stocks like Microsoft, Facebook and Apple. In addition, Davis had previously stated that Ethereum was setting three times more value in the chain than Bitcoin on a daily basis.
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