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Ethereum Reaches All-Time High of $2,399 and a Market Cap of $276 Billion as Network Difficulty Expected to Rise

Ether today reached another all-time high, just stopping short of the $2,400 mark. Trading earlier today, the cryptocurrency hit $2,399.61 before dropping down to the early $2,390s. The market cap for Ethereum reached a massive $276 billion, more than that of the chipmaker, Intel ($265 billion).

Via: Coindesk

Later today, the blockchain is expected to start the transition to the newer Ethereum 2.0 algorithm. Named the Berlin hardfork, it is going to adjust the transaction fees paid to miners for mining the digital currency, and as such may have far-reaching consequences.

Another hardfork London, aimed at addressing the issues with the current Proof-of-Work system is planned for sometime later in 2021 or 2022. In addition to this, it is also expected to cut the commission paid to miners, once again reducing the profitability of Ether mining by quite a bit.

Areej

Computer hardware enthusiast, engineering dropout, and PC gamer. Former co-founder of Techquila (2017-2019), a fairly successful tech outlet. Been working on Hardware Times since 2019, an outlet dedicated to computer hardware and its applications.

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