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Revamped ETH (2.0) To Be A Bigger Price Trigger Than BTC Halving: Analyst

05/15/2020
revamped eth ethereum 2.0

One analyst is in the Ethereum news today, saying that the revamped ETH (Ethereum 2.0) is going to be a bigger price catalyst compared to this week’s Bitcoin (BTC) halving. As we could see in the previous news, the halving for the dominant coin meant nothing but great parabolic rallies historically.

However, we are not seeing any signals of a potential uptick yet. This is why one analyst took it to Twitter and said that the revamped ETH is likely going to trigger more action on the markets once it goes live.

For those of you who don’t know anything about Ethereum 2.0 from our cryptonews, you can visit this link and read more. Basically, the revamped ETH would mean a blockchain upgrade that is slated to dramatically improve the speed and usability of the network.

On Crypto Twitter, the analyst claims that the revamped ETH will bring many novelties in the future. According to Ryan Watkins who is working at Messari, the launch of ETH 2.0 is a much stronger catalyst compared to the BTC halving simply because “it’s an uncertain and fundamental change.”

While the effects of the Bitcoin halving are still not here, the effects of a revamped ETH 2.0 would mean a lot more – they will have a dramatic effect on the “tokenomics” of Ethereum as they would be a bit more variable. In fact, there are a number of factors at play within the upgrade that could restrict supply and increase demand.

Even though the researcher did not indicate more about the revamped ETH in the Ethereum news, he said that the upgrade will be a greater catalyst. Other analysts are also predicting that this will send prices flying. For instance, the crypto-centric venture investor Adam Cochran explained that the introduction of this upgrade is almost certain to restrict the ETH supply while increasing demand.

“With the release of ETH 2.0, we’re going to see ETH drastically increase its tx/s and therefore its commercial and consumer viability. Gas clogs, high transaction costs, long wait times in dApps all go away, even in a busy market,” Cochran explained.

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