Ethereum's price is anticipated to surge by up to 60% due to increased interest from whales, according to analysts. Whale activity has reached a six-week high, which historically signifies potential price accumulation. Projected growth could see Ethereum reach between $4,000 and $6,000, although a dip to $2,000 may invalidate this trend.
Ethereum co-founder Vitalik Buterin has highlighted issues that need addressing for sustained growth. He suggests simplifying its protocol, which has grown complex, potentially undermining integrity and security. Recent changes like the removal of the SELFDESTRUCT opcode have alleviated some complications and risks.
Another challenge is the storage issue due to Ethereum’s historic data. Buterin recommends cryptographic proofs of state to allow nodes to retain only necessary fragments of data, akin to the torrent system. This change aims to solve the storage burden yet requires careful implementation to observe impacts.
Ethereum is currently trading at $2,470 after a 2.84% price drop. However, trading volume has increased significantly, surpassing $22 billion in a day, indicating sustained market interest despite recent dips.
