• Ethereum co-founder Vitalik Buterin is confident that another bull run is on its way, but scaling issues must be addressed first.
• The Shapella upgrade recently allowed staked currency units to be withdrawn, and could attract the attention of Wall Street and institutional investors.
• Buterin is adamant that crypto scaling solutions need to be implemented in order for the next bull run to succeed.
Ethereum Shaping up for Bull Run
The bitcoin price has seen a lot of hype recently as it hit $30K for the first time in 11 months. Along with Bitcoin’s success, Ethereum (ETH) is also doing well after having gone through its Shapella upgrade, which allows the withdrawal of staked currency units. This newfound liquidity could potentially attract attention from Wall Street and institutional investors.
Vitalik Buterin’s Plan
Ethereum co-founder Vitalik Buterin is confident that another bull run is on its way but insists that crypto scaling issues must be addressed before it arrives so transaction fees don’t become too expensive. He plans to implement these solutions as part of the next big upgrade, which has yet to officially been announced.
ETH has experienced two major upgrades over the course of eight months thus far; The Merge and Shapella Upgrade. During The Merge, ETH moved from a proof-of-work module to proof-of-stake model which resulted in faster transactions and lower transaction fees while being more energy efficient at the same time. With the Shapella Upgrade, staked currency units can now be withdrawn which adds new liquidity to digital assets and could potentially make them mainstream among funds.
Potential Impact on Bull Run
Buterin has made it clear that fixing crypto scaling issues will have a great impact on ETH’s next bull run, noting: „If we don’t fix scaling before the next bull run, people are going to be stuck paying $500 transaction fees.“ If this goal can be achieved then Ethereum should experience an even bigger surge in prices than before due to increased investor confidence from Wall Street and institutional investors alike.
It remains unclear what exactly will happen during the upcoming upgrades but it’s clear that Vitalik Buterin is confident they will help propel Ethereum into another great bull run if done correctly. If successful then not only will transaction fees remain low but digital assets may also become more mainstream within funds due to increased liquidity resulting from Shapella upgrade allowing staked currency units to be withdrawn