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Something amazing happened: Ethereum closed very near to the $2300 target, and part of the reason has to do with the software update that it is going to receive later on. But at present, let’s compare the performance of Ethereum with that of Bitcoin, which also did manage to come across a new all-time high scoring right at $63.8k, which is pretty impressive, but according to some market explorers, it is one of the bubbles that Bitcoin is bringing onto the doorstep of the crypto market. Talking about the performance of Ethereum, it is not that relevant to that of Bitcoin as Ethereum is kind of running its own show right now and is not hiding anymore behind the shadows of Bitcoin at all.
The very reason for this price bump for Ethereum is because it is going to receive an upgrade known as BLS upgrade (Berlin), which is known to bring some significant improvements onto the big picture. It might be a minor upgrade, but it is definitely bringing some decent stuff up there, such as improvements in the gas and others. The current upgrade mentioned here is the hard fork upgrade, which means that if any node that is not going to upgrade will be cut off permanently from the blockchain network, and this is done to focus on the fee market upgrade.
Big Upgrades are on their Way for Ethereum
The fee market upgrade has been in development for some time now, and all that it requires right now is some time for polishing and tweaking it up a little so that it becomes ready to be uploaded into the mainnet. The mainnet is subjected to come in the next two months, and it would probably be prepared in June.
This is going to be a big step because then the monetary policy applies here, which means that the algorithm has targeted the availability of about 50% capacity, which will be burned. A move from the miners regarding the spamming of the network is imminent as they will definitely be trying to get the fees up, but this new upgrade is going to stop them from doing that—a smart move for stepping into a safe and just crypto future.