Thursday, March 30

Key Ethereum Price Metric Hits 6-Month Low After ETH Drops Below $3,000 By Cointelegraph

©Reuters. Key Ethereum Price Metric Hits 6-Month Low After ETH Drops Below $3,000

Ether (ETH) price lost support at $3,600 on Jan 5, as the US Federal Reserve’s December FOMC meeting minutes showed the regulator pledging to reduce its balance sheet. assets and to raise interest rates in 2022.

Even with that overload looming, Ether has its own issues, most notably the current $40+ average transaction fee. On Jan. 3, Vitalik Buterin said that he needs to be data-lighter on the blockchain so that more people can manage and use it.

  • These are the levels to watch as you fight to avoid falling to the $30,000 level.

The most concerning part of Vitalik’s interview was the status of the Ethereum 2.0 upgrade, which is barely halfway through after six years. The next phases of the roadmap include the “merge” and “rise” phases, followed by “full sharding”. When implemented, they will lead to an estimated 80% completion of the network upgrade, according to Buterin.

Read the full article on Cointelegraph

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