New ATH Record After Latest Altair Upgrade
Ethereum is seeing a new ATH after the last Altair upgrade and its new record price is over $ 4400. So read more on our latest Ethereum price news.
The price of ETH as the second largest cryptocurrency by market capitalization has shot up more than 10% in the past 24 hours, only to hit a new all-time high two days after hitting the previous record. Ethereum is recording a new ATH of $ 4,416, according to CoinGecko. ETH climbed to almost $ 4,300 before falling below $ 4,000, but the network has gone through its third upgrade in the last seven months, making ETH 2.0 a faster, safer network close to reality.
The price of the asset benefited from a network upgrade in August when the London hard fork established deflation, so instead of paying miners to take action on the network when a user pays a fee, basically for the network to get it destroy. Since the decline in the growth in supply in the network, ETH has risen from USD 2000 to its current high. Meanwhile, ETH traders expect the asset to enter a bull phase and over $ 1.2 billion in ETH options will expire, according to ByBt. More than half of the bets on future prizes are placed above $ 4,500 and when that happens it will be a new record for the asset set in a year.=
As recently reported, there are currently over 118 million ETH in circulation, and while there is no upper limit on supply for the cryptocurrency, don’t expect the number to get any higher. According to simulations by the ETH tracker Ultrasound Money, the supply of Ethereum could decrease after the PoS transition and is expected to decrease by 2% annually, and if this rate stays the same, the blockchain will start burning every new block. At the beginning of August, ETH developers pressed the “Start” button on the biggest blockchain upgrade of all time. The London Hark Fork and EIP-1559, an ETH improvement proposal, increased the block sizes to combat network congestion and crush transaction fees instead of sending them to miners.
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