The so-called “Berlin” hard fork was successfully executed on the Ethereum (ETH) network. The ether price was already in a slight increase in anticipation of this update and continued after the introduction.
Last night, ethereum broke through $ 2,500 for the very first time and settled a new all-time high (ATH) around $ 2,545. That’s after an increase of 25% in the past two weeks. Since the new record, the price has been corrected down again, but it may appear to be bouncing around a new support at $ 2,400. Update: That seemed to be the case at first, but then news came out about the crypto ban in Turkey, which is likely to pull the entire market down.
Ethereum’s total market capitalization is rapidly approaching $ 300 billion. According to data from Asset Dash, the assets are now larger than Intel, Adobe, Netflix, Nike and Coca-Cola. Ethereum’s market cap is getting closer to PayPal, Bank of America and Walt Disney.
Meanwhile, it has made another leap and is now at a new record of $ 8.4 billion according to Bybt.com. The IO on ether options is up to $ 3.6 billion.
In related news, Rothschild Investment Corporation announces that it has purchased 265,302 shares from the Grayscale Ethereum Trust (ETHE) worth $ 4.75 million.
The Berlin hard fork is accompanied by four Ethereum Improvement Proposals (EIPs) to improve the network congestion problem, which is causing enormous transaction costs. The update was not completely without problems, but these seem to have been resolved by now:
The controversial EP-1559 will not be implemented until this summer along with the larger “London” hard fork. Ethereum Classic (ETC), the brother of Ethereum, rose by no less than 36% last night, but by far the biggest riser today is Dogecoin (DOGE).