Ethereum: Will Buterin’s latest roadmap make ETH climb the crypto ladder
From November 5, Vitalik Buterin tweeted ‘updated roadmap diagram’ showing the changes in store for Ethereum [ETH]. As can be seen, changes were made to The Verge and Scourge segments of the roadmap.
Updated Roadmap Diagram! pic.twitter.com/MT9BKgYcJH
— vitalik.eth (@VitalikButerin) 4 November 2022
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Here is AMBCryptos Ethereum price prediction [ETH] for 2022-2023
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Some new changes on the way
With the new updates in mind, Vitalik and Ethereum’s team are aiming for a full SNORED Ethereum and plan to solve MEV problems. These changes to the roadmap may hype up some investors about Ethereum’s optimistic future. However, there were other vulnerabilities that could act as a roadblock in Ethereum’s growth.
In accordance Messari’s chirping published on November 4, Ethereum witnessed a high correlation with general macro markets. As can be seen, Ethereum’s price had an 88% correlation with real returns. If the correlation continues, Ethereum could be massively affected by negative movements in the general macro market.
Source: Messari
Although this correlation can make Ethereum riskier to buy, there are many traders who can profit from Ethereum’s growth. Furthermore, following Glass nodea cryptoanalysis firm, the percentage of addresses in profit reached one a month high of 58%. Subsequently, the number of addresses in loss also decreased during same period.
📈 #Ethereum $ETH Percent Addresses in Profit (7d MA) just hit a one-month high of 58.010%
Previous 1-month high of 58.008% was observed on November 2, 2022
See calculation: pic.twitter.com/EbVI5Uysjz
— glassnode alerts (@glassnodealerts) 4 November 2022
Another positive for Ethereum will be its growth in terms of median transaction volume. As can be seen from the image below, the median transaction volume has increased significantly over the past month. As of November 5, the median transaction volume for Ethereum was $66.42.
Source: Glassnode
ETH can you do better?
Despite all the changes in store for Ethereum, the king of altcoins still needed to show improvements in other areas. For example, EthereumNetwork growth has dropped tremendously in the last month. This indicated that the number of new addresses transferring Ethereum for the first time had decreased.
Along with that, a decrease in Ethereum’s daily activity was also observed. The daily active addresses of Ethereum the network has been severely degraded in the past month. As of 5 November, the number of daily active addresses on the web was 198,000.
Source: Glassnode
At the time of writing, Ethereum traded at $1,617 and fell 1.77% in the last 24 hours.
