Ether price flirts with $ 2,400 ATH as irreversible hard fork looms

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Led by the rise of Bitcoin (BTC) to a new all-time high, as well as much of the broader cryptocurrency market, Ether (ETH) continues to push new all-time highs on Wednesday as the price of the coin flirted with the $ 2,400 range for the first one. time.

The Ethereum network is expected to undergo an update approximately the next day when the blockchain reaches block number 12244000. The blockchain was at block number 12 237 070 at the time of publication. Based on the current average block times of 14 seconds, the update is expected to land on April 15, around noon (UTC + 1). The update – dubbed “Berlin” – will introduce several technical changes, all aimed at making the network more profitable.

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The price of the Ether coin peaked at $ 2,397 on many exchanges on April 14, according to aggregation data from CoinMarketCap, after rising 10.8% over 24 hours. Ether growth for the week stands at 22.4%, while coin prices are now up 110% for the quarter – a figure that would be more noticeable under less explosive circumstances in the China market. ‘altcoin lately.

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The Berlin Update will be deployed as a hard fork – an irreversible change in a blockchain’s protocol. The hard fork is non-contentious, which means that no ideological difference in the community will lead to the formation of a new coin – as was the case with Ether and Ethereum Classic (ETC) in 2016.

Anyone who holds Ether in wallets or on exchanges will not be affected by the hard fork, however, Ethereum node miners and operators will need to update their software to sync with the latest version of the chain. EtherNodes.org data shows that 72% of Ethereum software customers have achieved Berlin-ready status in anticipation of the hard fork.

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Speculation surrounding potential short-term Ether price movements ranges from very bullish (and certainly “not crazy”) to conservative and measured.