• Ethereum has been gaining ground since the start of the year and is currently trading at $1,588.
• The Shanghai network upgrade will add new features to the Ethereum platform.
• Vitalik Buterin recently shared his vision of the Ethereum ecosystem in the year 2032, which includes the ability to run nodes on a phone and making it the most decentralized DeFi platform.
Ethereum has been making significant headway in the crypto market since the start of the year. The leading altcoin has seen its market value skyrocket to $1,588 – a 20% increase in the past week, with the biggest gains being recorded at the monthly time frame at 32%.
The surge in Ethereum’s value can be attributed to several factors. Firstly, news of the Shanghai network upgrade has generated buzz in the market. The upgrade, according to the Ethereum Foundation, will add new features on the platform and make it more user friendly.
In addition to this, Ethereum’s founder and inventor Vitalik Buterin recently shared his vision of the Ethereum ecosystem in the year 2032. The ambitious plan includes the ability to run nodes on a phone which would make the Ethereum platform the most decentralized DeFi platform in the world.
These developments have helped Ethereum to regain lost ground from the bear market and have given hope to Ethereum bulls that the coin might even hit the $2k mark in the near future. With such an encouraging outlook, it is likely that Ethereum will continue to flourish in the crypto market.