Analysts predict the growth of Ethereum 10 thousand times

Analysts expect that after the upgrade of Ethereum to protocol 2.0, the altcoin price will rise from the current $3 thousand to $20-40 thousand.

In January 2021, experts already predicted that the cost of the cryptocurrency could exceed $10 thousand. In their opinion, the Ethereum update will allow the blockchain to approach such payment systems as Mastercard and Visa in terms of transaction volume.

Moreover, protocol 2.0 will allow the original blockchain to scale and make it more user-friendly. The main feature of the update will be the network's transition to Proof-of-Stake (PoS) consensus – it will replace the Proof-of-Work (PoW) consensus on which the blockchain is currently running.

The main difference between PoS and PoW is that in order to maintain the operation of the PoS network, miners who generate computing power are not needed. The efficiency of the blockchain is provided by the holders of digital coins, who receive a reward for this.

On August 5, the London update already took place on the Ethereum network, which completely changed the mechanism for calculating transaction fees. Now part of the commission that miners previously received as a reward is burned.

Experts also note that Ethereum will be able to surpass Bitcoin in capitalization only if the main cryptocurrency remains at $50 thousand, while ether will rise in price to $10 thousand.