Ethereum

2024

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-showcases-resilience-and-growth-following-recent-declines/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Showcases Resilience and Growth Following Recent Declines</a> 
Despite a recent 11% decline over the past three days, Ethereum (ETH) has rebounded, currently trading at $3,042. This resurgence has heightened expectations among traders that Ethereum may reach even higher levels.
<h2 style="text-align: justify" id="strong-ethereum-updates-and-smart-contract-innovation-strong">Ethereum Updates and Smart Contract Innovation</h2>
The increase in Ethereum’s value is supported by ongoing updates to the network. The “Cancun-Deneb” update implemented in 2024 has resulted in significant advancements in scalability and security. Following this update, gas fees have decreased, attracting more investors to the Ethereum network.
Vitalik Buterin, the founder of Ethereum, stated that the Proof-of-Stake (PoS) system aligns with the decentralization goals of Ethereum. Buterin emphasized, “Proof-of-Stake makes our network more decentralized and secure.” This transition has improved the network’s reliability while also reducing transaction costs.
<h2 style="text-align: justify" id="strong-ethereum-and-market-performance-strong">Ethereum and Market Performance</h2>
As of November 22, 2024, Ethereum’s market value stands at $530 billion. Ranking second after Bitcoin’s $1.73 trillion market cap, Ethereum accounts for 20% of the total <a href="https://en.coin-turk.com/crypto-prices-fluctuate-as-bitcoin-drops-to-61000/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/paypal-introduces-new-cryptocurrency-token-supported-by-paxos/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market. Together, Bitcoin and Ethereum represent 83% of the market cap.
Since the beginning of the year, ETH has seen a 33% increase in performance. However, recent fluctuations in Bitcoin’s price have pulled Ethereum’s annual gain from over 50% to this level. Nevertheless, the price increase of Ethereum continues to maintain investor interest.
The 24-hour trading volume remains high, aided by exchanges like <a href="https://en.coin-turk.com/binance-launches-perpetual-contracts-for-two-altcoins/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, which executes 40% of ETH transactions through futures trading. This high activity occasionally leads to an increase in gas fees. Recent data indicates that the average transaction fee on the Ethereum network is currently at 15.84 Gwei.
The continuously evolving infrastructure and technological advancements of Ethereum continue to captivate investor interest. Experts predict that these innovations will positively impact Ethereum’s future performance.
The post <a href="https://en.coin-turk.com/ethereum-showcases-resilience-and-growth-following-recent-declines/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Showcases Resilience and Growth Following Recent Declines</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Ethereum Showcases Resilience and Growth Following Recent Declines

Table of Contents

COINTURK NEWS

Other articles published on Nov 22, 2024

Why Ripple XRP And Viral New Altcoin Are About To Enter Parabolic New Growth Stage

Market indicators suggest this $0.000667 coin could outshine XRP and Dogecoin

MicroStrategy’s Bitcoin Holdings Reach $24B with Latest Acquisition

Texas Lawmakers Eye Strategic Bitcoin Reserve, High National and Global Interest

XRP Days Below Price All-Time High Are Numbered. Here’s why

Bitcoin up 500% Since Historic Crash Below $16,000 Two Years Ago

Join our free newsletter for daily crypto updates!