Just in the last week, in the run-up to the network upgrade, Etherium significantly outpaced its competitors in terms of growth, after the upgrade even more growth is expected due to the fact that the network plans to become much faster and less energy-consuming.
Since October 19 alone, these cryptocurrencies, which are called the number two cryptocurrency rose by 10% to values of $4,200 per coin, while Bitcoin showed a slight decline of 3%.
The growth of Etherium was higher than that of its closest competitor Binance Coin over a similar period of time.
First of all, the active growth is due to the network upgrade that is due on Wednesday, which will help scale this cryptocurrency and reduce transaction fees.
Over the last year, Etherium has grown in value by 1000 percent, Bitcoin has only grown by a factor of 4. This is also due to the fact that the blockchain Etherium is very popular in the field of NFT tokens and applications.
Of course, it is a volatile asset and also lost 50% of its price at the beginning of this year, but now it has almost recovered to its maximum