The world’s second-largest cryptocurrency by capitalization, Ethereum (ETH), has caused a stir in the market this year.
At the time of writing, it was up 8% to $ 3,200, with a market capitalization of more than $ 377 billion.
However, Ethereum founder Vitalik Buterin is extremely bullish about the future of cryptocurrency, especially after the recent upgrade of London hardfork and the implementation of EIP-1559.
During his interview, Buterin said he expects the ETH price to increase tenfold.
That is, the ETH price will reach $ 30,000 by the end of the year.
That means Ethereum (ETH) will have a staggering $ 3 trillion valuation, making it the largest of all the Big Tech companies in the world.
The “against” with Cardano
The Cardano (ADA) price hit a record high of $ 2.54 per currency (+ 17%) on Friday, August 19, with investors awaiting the planned upgrade of Alonzo – a move that will allow the integration of smart contracts and thus address what network critics have described as one of the network’s most obvious shortcomings.
The smart contract functionality will allow Cardano to integrate more applications, including decentralized financing platforms (DeFi) for auto lending and cryptocurrency trading.
The improvement could dethrone Ethereum, which is now the leader among blockchains, thanks to the fact that it enables smart contract operations.
It is recalled that Cardano is expected to be upgraded in late September – early October.
Investment rotation
Initially, Ada’s uptrend rallied, to a large extent, a similar boom in the cryptocurrency market to its rival Ethereum, which also made a significant upgrade.
Then Ada fell, as did Bitcoin (BTC), which recently topped $ 48,000.
However, Cardano’s token began to outperform, and volatility in Bitcoin increased after the publication of the US Federal Reserve’s minutes.
