Ether (ETH) climbed to a new high on Tuesday, and the next major update in ongoing development – called Berlin – is scheduled for Wednesday April 14th.
Ether reached $ 2,228 on Tuesday, the highest dollar value of the coin since its inception. The coin’s market value exceeded $ 250 billion for the first time. In terms of context, Bitcoin (BTC) was at the same level just six months ago, at the end of October 2020.
Ether has continued to grow by 1,328% over the past year, despite serious concerns about transaction fees on the Ethereum network. The average Ethereum transaction fee peaked at $ 38.21 in February, making Ether generally unusable as a transactional currency, according to Bitinfocharts data.
But investors seem to have some hope of delaying unmanaged Ethereum fees, especially in the form of an upcoming network update that will radically change the way fees are paid. The London upgrade, scheduled for the summer, has caused a storm among Ethereum miners because it includes plans to reduce some of the costs normally borne by mining platform operators.
Wednesday’s Berlin Update is expected to have less impact in the short term, but it will pave the way for London and bring about four major changes to the network as it appears. A complete technical overview can be found on the official release page, but a number of changes will be made to the blockchain to reduce the cost of certain types of transactions. The new transaction envelope will also make it easy to combine multiple transactions into one conversion.
It wasn’t the only currency to reach a new all-time high on Tuesday; Bitcoin also reached new heights when the price of BTC rose to over $ 63,000. Meanwhile, Binance Coin (BNB) and XRP, just behind Bitcoin and Ether in the market rankings, have reached a full new hiring in the last 24 hours.