Ethereum To Surge Above $1,000 In 2021 Under This Condition

Ethereum has been making a lot of headlines recently, and the main reason is the coming of Ethereum 2.0 upgrade.

Not too long ago, we revealed that the hype for Ethereum 2.0, which is just around the corner has been growing at a rapid pace.

The coin’s price also saw big upwards movements these days, mirroring the success of the project.

At the moment of writing this article, ETH is trading in the red, and the digital asset is down by more than 1% in the past 24 hours. ETH is priced at $455.54.

A proposed Ethereum upgrade would boost the price of the coin

It’s been just revealed that a popular pseudonymous crypto analyst says a proposed Ethereum upgrade would significantly boost the price of the coin.

The analyst called Pentoshi said that the launch of the Ethereum Improvement Proposal (EIP)-1559 would ensure the price of ETH moves above the $1,000 mark next year.

“EIP-1559 in 9 months. ETH has the possibility to become deflationary. Current issuance is 4% per year, same as BTC. ETH 2 will [be] bringing [issuance] down to 1.5%. A halving of its own just without the label. ETH is needed for everything. Gas. DeFi. Alts. Staking. Uniswap. $1,000+ in 2021.”

It’s also worth noting that first proposed back in 2018; the EIP-1559 is designed to significantly restructure the fee mechanism of the ETH network.

The EIP-1559 upgrade will make all transactions have a standard fee called a basefee, which is the same for all users.

Ethereum creator Vitalik Buterin explained the benefits of all this.

“Simplicity of wallet development (no/less need for complex fee estimation strategies). Privacy (less need to choose fees means less opportunity to reveal bits of info about yourself).”

There have been all kinds of optimistic predictions these days about the price of Ethereum and Bitcoin as well, especially since BTC hit $16k for the first time in three years.


People Mentioned

Vitalik Buterin
Vitalik Buterin

Vitaly Dmitriyevich "Vitalik" Buterin is the co-founder of Ethereum, the world's most popular smart contract platform that enables developers to build decentralized applications (at the time of wirting this, ETH has a market cap pf $2B). Prior to his development of Ethereum, Buterin was the co-founder of Bitcoin Magazine.

Trending news

Top Exchanges
Icon
CEX.IO

3

Website

Icon
Coinbase

2

Website

Icon
Binance

1

Website

Top Casinos
Icon
7bitcasino

4.20

Website

Icon
BitStarz

5

Website

Icon
FortuneJack

4.55

Website

Top Sportsbook
Icon
1xBit

4.03

Website

Icon
Nitrogen Sports

4.73

Website

Icon
SportBet.io

4.60

Website

Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

2243 Articles

Top Exchanges
Icon
CEX.IO

3

Website

Icon
Coinbase

2

Website

Icon
Binance

1

Website

Top Casinos
Icon
7bitcasino

4.20

Website

Icon
BitStarz

4.93

Website

Icon
FortuneJack

4.90

Website

Top Sportsbook
Icon
1xBit

4.03

Website

Icon
Nitrogen Sports

4.73

Website

Icon
SportBet.io

4.60

Website

Trending news