While the cryptocurrency market is currently experiencing volatility, ethereum token prices have managed to hold their ground during the past month. This is in stark contrast to other assets like stocks and gold, which are sinking at an alarming rate. Some experts think that the stability in crypto recently is a result of the long-term tenacity of investors. However, inflation reports and Federal Reserve meetings could cause additional volatility, and the midterm elections could also have a negative impact on ethereum prices.
Ethereum is an open source platform that operates on its own currency, called ether. It also serves as a platform for a number of cryptocurrencies and decentralized smart contracts. The platform is renowned for its lack of third-party interference and free-fraud features. Hence, it’s becoming a popular choice for the NFT market.
Ethereum is also working towards the transition to a proof-of-stake algorithm, which will increase its scalability and introduce many new features. As of now, the team has already implemented a hard fork in London, which is scheduled to go live in August 2021. This upgrade included five Ethereum Improvement Proposals, the most significant of which is EIP-1559.
