ETH finishes August with a brutal sideways, but several technical achievements passed:
CryptoKitties, a NFT game, wrecked the Ethereum network a few years ago because the network couldn't handle the volume. Now with the NFT craze, gas prices rise for about an hour or two while the minting process happens and that's it. ETH has gotten a lot better at handling the volume, which means more products will be built on/for it, which means... etc.
Stats are from 1/1/2020 to current using ~2% risk.
The range expanded to the upside yet again, and we take the long signal yet again. Will this be the breakout to new highs? There's no way to know, but one way to find out.
- EIP 1559 upgrade
- EVM becoming THE standard for blockchain development (every new chain is EVM compatible so devs only have to learn 1 language)
- Fixed GETH bug that split the ETH chain yesterday
- NFT explosion
CryptoKitties, a NFT game, wrecked the Ethereum network a few years ago because the network couldn't handle the volume. Now with the NFT craze, gas prices rise for about an hour or two while the minting process happens and that's it. ETH has gotten a lot better at handling the volume, which means more products will be built on/for it, which means... etc.
Stats are from 1/1/2020 to current using ~2% risk.
The range expanded to the upside yet again, and we take the long signal yet again. Will this be the breakout to new highs? There's no way to know, but one way to find out.