The Rise of Ethereum (ETH)
By Denis Vinokourov, Head of Research, BEQUANT
First it was the elections in the US that overshadowed the news that Ethereum 2.0’s deposit contract went live, and now it is the turn of Bitcoin - which is flirting with an all-time high that is threatening to dwarf the significance of Ethereum’s 2.0 deposit contract securing enough funds to launch.
Broadly speaking, this is also a very bullish development for all things DeFi, as the eventual transition to PoS, alongside additional upgrades, will enable greater network scaling and, with that, cheaper transactions and more efficient running of the network. The Ethereum Foundation had previously set a soft launch date for 1 December.
MVIS CryptoCompare Ethereum Index
Source: MV Index Solutions GmbH. All values are rebased to 1000. Data as of 30 October 2020.
Denis Vinokourov has close to 10 years of experience in traditional markets and a front office facing role/macro desk. He transitioned into digital assets market in late 2017 and currently serve as the head of research at BEQUANT, a cryptocurrency exchange & institutional prime brokerage.
The article above is an opinion of the author and does not necessarily reflect the opinion of MV Index Solutions GmbH or its affiliates.