CEX.IO company blog | Ethereum is a contender for the first place among cryptocurrencies

The ether price has undergone significant shaking today - first falling to $590, and then recovering and rising to $640. Whether we should expect a new wave of growthEthereumby the end of this year, Yuri Mazur, head of the data analysis department of CEX.IO Broker, gave his opinion.

That ETH recently fell to the mark$ 590 is not something critical from a global point of view for the market situation around this cryptocurrency. When assessing the market potential of Ethereum, it is worth considering the technological changes that are taking place around this project. The Ethereum 2.0 network will be fundamentally different from the current Ethereum 1.0 blockchain.

Ethereum 2.0 will radically solve the problem of scalability and high performance of the blockchain by introducing parallel processing of transactions on shardchains. On the Ethereum 2.0 network, the throughput is expected to reach 15,000 transactions per second or more.

Thanks to this, Ethereum can potentiallyclaim the place of the first cryptocurrency that can be used on a par with fiat currencies both in everyday payments and in cross-border payments, without causing any significant inconvenience to users due to a long wait for transactions to pass. And this will certainly have a positive effect on the price dynamics of the ETH token.

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