Ethereum is blazing a new trail in the world of cryptocurrencies, reaching a high of 3040 on February 2nd. It marks the highest point since November 10th, 2022, and solidifies its place as one of the top players in the game.
The primary sources fueling this fiery surge are two popular decentralized exchanges, Uniswap and OpenSea. Both platforms have seen a significant increase in usage and transactions, leading to a corresponding rise in the value of Ethereum.
Additionally, as the demand for Ethereum continues to grow, so too does the cryptocurrency greed index, which has hovered around 60 for several days. It indicates a high level of excitement and anticipation in the market as investors scramble to get a piece of the action.
However, the burning of ETH is a key metric in the world of cryptocurrency and is being closely watched by those in the know. This latest record high burn is just another example of how Ethereum is making waves in the market and solidifying its place as a leading cryptocurrency.
Ethereum Developers Set Sights On Upgraded Mainnet Launch In Mid-March
The Ethereum community was excited as developers gathered for a conference call on February 2nd to discuss the latest developments in the Ethereum network.
According to Christine Kim’s blog, the conference call pointed out that assuming all public testnets of the Shanghai upgrade go smoothly, developers are expected to activate the upgraded mainnet in mid-March.
The Shanghai upgrade is a highly anticipated event in the Ethereum community. It will bring several important changes to the network, including increased efficiency, reduced gas fees, and a new consensus algorithm.
The upgrade is expected to make Ethereum more secure, scalable, and user-friendly, which will be a big boost for developers and users alike.
The conference call also discussed the progress of the Shanghai upgrade on various testnets. The Zhejiang testnet will activate the Shanghai upgrade on February 7th, followed by releases on the Sepolia testnet (mid-February) and Goerli testnet (late February and early March).
However, the smooth activation of the upgrade on these testnets will be crucial to ensuring a successful mainnet launch.
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