Éter (ETH) reached a new high on Tuesday and the update is scheduled for Wednesday, 14 April, as the next major upgrade – known as “Berlin.”
On Tuesday, Ether’s prices reached $2,228, the highest dollar value since its conception, which has been achieved by the coin. The capitalisation of the coin exceeds for the first time $250 billion. In the context, in the last six months, in late October 2020, the market cap of Bitcoin (BTC) stood at the same level.
Despite significant concerns about the Ethereum Transaction Fees, Ether’s 1.328 percent growth in the past year has persisted. According to data from Bitinfocharts, the average cost of the transaction in Ethereum reached an all-time high of $38.21, which usually made Ether inappropriate as transactional currency.
But investors appear to hope that Ethereum’s uncomplicated fees will be redeemed, especially as a forthcoming network upgrade that will dramatically change how fees are paid. The London upgrade planned for this summer has drawn the ire of mining companies in Ethereum as it involves plans to burn certain charges that mining operators would normally incur.
The Berlin upgrade on Wednesday is anticipated to be less impactful, but will pave the way for London and make four major network changes as it stands. The official release page contains a complete technical division, but there will be a variety of modifications to the Blockchain to reduce transaction types’ costs. It will also be easier to package more transactions into a single transfer with another transaction envelope.
Bitcoin also hit new heights because the BTC coin price increased to above $63,000 and this wasn’t the only coin that reached a new all-time high on Tuesday. In the mean time, Binance Coin (BNB) and XRP — also hit new all-time peaks in the past 24 hours immediately behind Bitcoin and Ether in the market cap rankings.