The situation of the electronic market in recent times has been positive, especially leading digital assets such as Bitcoin and Ethereum, which are showing good signs.
Specifically, Ethereum, the second largest digital crypto asset, has unexpectedly surpassed $3000, vaulting ETH’s market capitalization above that of other world’s largest financial institutions such as MasterCard and Bank of America.
According to updated data from COMPANYMarketCap.com, ETH’s market capitalization is at $363.35 billion as of press time, while that of MasterCard is at $337.12 billion and that of Bank of America is at $347.12 billion USD.
EIP-1559 burned 2 million ETH. The next protocol change for the blockchain is to “merge” from Proof-of-Work to Proof-of-Stake. With the consequences of EIP-1559 and lower emissions from the transition to Proof-of-Stake, ETH could soon become a deflationary asset.
EIP-1559 was created to improve Ethereum’s fee market because Ethereum gas fees previously used an auction method, which made transaction prices unpredictable. EIP-1559 requires users to pay a minimal fee on transactions known as a “base fee,” as well as an optional tip for miners to get their transactions processed quickly in real time. severe congestion.
To try to understand what is behind Ether’s current bull run, various crypto analysts have speculated that the upcoming Ethereum Merge is attracting investors to the asset.
Reports have surfaced that the much-anticipated transition of the Ethereum network from a proof-of-work mechanism to a proof-of-stake network will make the asset even more attractive to institutional investors. People may be holding back because of concerns about energy consumption.
But with the network processing with PoS upgrade, more investors are expected to invest in this asset. At the same time, the network can gain control of the DeFi and NFT space from other smart contract-enabled blockchains such as Solana, Cardano, Avalanche, etc.
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