Ethereum co-founder Vitalik Buterin has offer a solution to temporarily resolve the scalability and transaction fee issues at Layer 2 before sharding is complete. New updates may be added to the Shanghai hard fork.
Vitalik Buterin – Co-founder of Ethereum
The Ethereum development roadmap is running non-stop. Ethereum co-founder Vitalik Buterin proposed a new update to provide instant Layer 2 scaling without sharding.
Rollups or Layer 2 chains inherit the security, decentralization, and liquidity of the Ethereum network. Early-stage rollups like Optimism, Arbitrum, and StarkNet await further optimization in 2022.
Ethereum Layer 1 can still charge high fees, but zero-knowledge (zk) rollups and greater scalability can offer the most affordable fees for users. In the end, users will just use zk-rollups instead of directly interacting with the Ethereum network.
Low transaction costs and higher scalability should improve investor prospects for ETH. CoinShares, a capital markets firm, recently surveyed digital asset fund managers every two months. The survey results show improved investor sentiment towards Bitcoin and ETH.
ETH price 4 hour chart | Source: Trade View
The report shows a fundamental correlation between investor sentiment and digital asset allocation. Compared to altcoins like DOT, ADA, and SOL, the relatively larger allocations to ETH come with a bullish outlook on price potential.
“The attribution to digital assets reflects a growth outlook where allocations to larger coins (BTC, ETH) are slightly higher than altcoins.”
Analysts have assessed ETH’s trend and found that the altcoin is at a crucial level.
Anonymous Twitter account for altcoin Sherpa believes ETH is likely to return to the lows. However, the price maintains a bullish market structure on the 4-hour weekly chart and 3,000 is the key point.
https://twitter.com/AltcoinSherpa/status/1489585312804257797?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener“ETH: In general, soils don’t form that way. I think the price still has a chance to go back to the lows at the end. Other than that, the price is maintaining a bullish market structure on the 4-hour weekly chart. Higher peaks and valleys. Beware as you approach the dreaded $3,000 zone.”
Other analysts believe ETH bears are desperate as the altcoin nears $3,500.
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