• Ethereum has made impressive gains since the start of 2023, with a YTD increase of 45%.
• Coinbase recently announced the launch of Base, a layer-two sidechain for Ethereum.
• The impending launch of the Shanghai upgrade (EIP-4895) is ushering in a new era for Ethereum.
Ethereum Price Gains in 2023
Ethereum (ETH) has registered impressive gains since the start of 2023, with an increase of 45% year-to-date (YTD). As of Mar. 2, ETH was trading at $1,641, down more than 5% from its 90-day peak.
Coinbase Introduces Layer 2 Sidechain
Coinbase recently announced the launch of Base, a layer-two sidechain for Ethereum. This move underscores the strength of ETH’s fundamentals, which are expected to fuel long-term growth. Coinbase is aiming to bring over a billion users into the crypto economy with Base and these new users could potentially benefit Ethereum greatly.
Impact on ETH Price
As ETH’s market factors and fundamentals continue to strengthen, investors wonder how this will impact its price in the coming days. Various vital themes and questions will heavily influence ETH’s path such as scalability issues and user adoption.
Shanghai Upgrade – EIP 4895
The upcoming Shanghai upgrade (EIP 4895) is expected to usher in a new era for Ethereum. After their September 2022 upgrade, dubbed The Merge, Ethereum transitioned from the traditional proof-of-work consensus mechanism to a proof-of-stake one and this Shanghai update will further improve upon that transition as well as provide enhanced capabilities for developers and entrepreneurs who use it.
With all these exciting updates being implemented on the platform and more potential users joining the network every day due to increased awareness about cryptocurrencies – it seems like Ethereum can set new records in 2023 if all goes according to plan!