Eth volatility

Aug 21, 2021

The Ethereum (ETH) price in USD kept growing in value over the course of April 2021, at one point reaching over 2,500 U.S. dollars. Much like Bitcoin (BTC), the price of ETH went up in 2021 but for different reasons altogether: Ethereum, for instance, hit the news when a digital art piece was sold as the world’s most expensive NFT for over 38,000 ETH – or 69.3 million U.S. dollars. Unlike Bitcoin – of which the price growth was fueled by the IPO of the U.S.’ biggest crypto trader Coinbase – the rally on Ethereum came from technological developments that caused much excitement among traders. First, the so-called “Berlin update” rolled out on the Ethereum network in April 2021, an update meant to pave the way for reduced ETH gas prices – or reduced transaction fees. Second, the arrival of Uniswap V3 in May 2021 – a smart contract protocol - is expected to further optimize Ethereum trading.