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Breaking News: Is The Approval Of Crypto ETFs At Risk? SEC Operations Frozen By Gov. Shutdown
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Breaking News: Is The Approval Of Crypto ETFs At Risk? SEC Operations Frozen By Gov. Shutdown

Ethereum 2.0 Roadmap Unveiled as ETH Price Hits Yearly Low

Wilma Woo
by Wilma Woo
7 years ago
·
Posted in Ethereum, Altcoin News, Altcoins, Blockchain, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum continues its highly mixed fortunes this week as talk of development milestones contrasts with Ether (ETH) hitting its lowest price in a year.


Troubled Times For ETH

Data from Coinmarketcap confirms that ETH/USD [coin_price coin=ethereum] currently trading at around $225 marks the pair’s lowest level since mid-September 2017.

Downward pressure on the largest altcoin had increased in recent days after Bitcoin suddenly fell by almost $1000 on controversial claims Goldman Sachs had shelved its cryptocurrency product plans.

Ethereum futures

While investor confidence in Bitcoin remains broadly unfazed, altcoin holders have long since begun to worry, with ETH attracting particularly vocal no confidence votes in recent months.

As Bitcoinist reported in July, for example, a dedicated “Bearish Thesis” on the asset from Tetras Capital painted a grave outlook, claiming its already deflated price was still “significantly overvalued.”

Speaking to CNBC this week meanwhile, commentators pointed to similar motivating factors behind ETH’s fall as Tetras had, those including the retreat of the 2017 frenzy, which saw Ethereum monopolize token issuance.

“People started building apps and software, but the market got ahead of itself,” Kyle Samani, managing partner at crypto hedge fund Multicoin Capital told the network.

They are realizing you have to be in it for the long haul, and some investors don’t have the patience.

New Ethereum 2.0 Roadmap Unveiled

Ethereum’s grand plans for the future continue in the background, with decentralized Ethereum Proof of Stake pool Rocket Pool’s senior blockchain developer Darren Langley releasing an overview of the so-called ‘Ethereum 2.0’ roadmap September 7.

Futures Have Paved The Way For An ETF

“There are many smart talented people working on making Ethereum awesome,” he summarized.

Ethereum 2.0, which encompasses innovations including Casper and sharding, is being built in a decentralized manner, something which Langley extensively highlights.

“It has an organic quality that hopefully will contribute to how human organization can scale up but remain inclusive,” he added.

Will Ethereum’s roadmap help its price recover? Share your thoughts below! 


Images courtesy of Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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