Ethereum! Why ETH is ready for TAKE OFF! In this video, we will look at the true siginificance of Ethereum’s EIP 1559 upgrade as well as some major catalysts that could cause Ethereum’s price to go parabolic! Enjoy!
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Intro 0:00
Ethereum (ETH) 0:52
There are hundreds of bad coins out there in the market, but there are a few coins out there are worth taking the risk and holding on to them for the long run, such as Ethereum, Cardano or Polygon Matic and Bitcoin. So be sure to watch the video “Ethereum: Why ETH Is Ready For TAKE OFF!! (Ethereum Price prediction)” To get a better idea of why Ethereum could be ready for TAKE OFF!
For example, we already had some major Ethereum upgrades and one of them being the EPI 1559, and the shift from proof of work to proof of stake, and these changes are going to make ethereum’s transaction fees much lower and ethereum will become deflationary, and also the complete elimination of mining, which will reduce carbon footprint by 99 percent, and this will make ethereum a green technology, this is some of the reasons as to why we should all keep an eye out for Ethereum and think about it in the long term.
The second half of 2021 has proven to not be disappointing for Ethereum again as we saw it back above 2,800 dollars and Bitcoin above $40,000. And not only that but we have Latin America really trying to make crypto mainstream, As Uruguay has introduced a bill to enable the use of cryptocurrency for payments and Ethereum’s London Hard Fork has just been activated, and EIPI 1559 is now active with aims to address the network fees.
EIP-1559 attempts to reduce the volatility and predictability of Ethereum’s transaction fees, addressing the problem of consumers overpaying for transactions. It also assists customers who are unsure whether or not a transaction will be allowed since their gas prices are set below an acceptable or expected rate.
EIP-1559 will not only assist to reduce transaction wait times, but it will also allow Ethereum’s global community and its layers of decentralized apps to have a more consistent experience.
EIP-1559 aims to decrease gas price volatility, however it doesn’t guarantee lower pricing because Ethereum can only process a certain amount of transactions at a time. Fees based on the minimal standard can only grow or drop by 1.125x each block under EIP-1559, giving Ethereum transactions more consistency and predictability.
Not only that but Ethereum already has a strong first-mover advantage in building a dapp and developer ecosystem.
Institutional investors have expressed a lot more interest in Ethereum and other decentralized finance tokens in the second quarter of 2021.
According to a quarterly study issued by crypto brokerage firm Genesis Global Trading, institutional players have been moving their emphasis from Bitcoin (BTC) to Ethereum (ETH) and other decentralized finance (DeFi) tokens in recent months.
Bitcoin’s share of the crypto industry’s overall market value has decreased from 70% in late 2020 to around 45 percent at the end of Q2 2021. According to CoinGecko, Bitcoin has a 43 percent market share at the making of this video
And transition to proof of stake will both reduce environmental impact and change the economics from mining to staking.
So be sure to stick around because we will also be going over some very specific dates for the next hardfork that you need to be aware of!
Enjoy and don’t forget to subscribe!
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