Altair upgrade moved Ethereum to a new ATH

On October 29, Ethereum reached another all-time high at $4400 per coin. The crypto community considers the Altair Beacon Chain update as the major driving factor for the coin’s price. This upgrade started successfully with more than 98% of already updated nodes.

The Altair upgrade was outlined as among the core stages towards the fullest network transition into Ethereum 2.0. According to Danny Ryan, this step enables smaller clients to access the Proof-of-Stake protocol. Furthermore, the upgrade is claimed to solve a set of problems related to validators’ rewards.

Preston Vanloon, the developer of Ethereum 2.0, commented on the news in his Twitter account: “Finality was uninterrupted and participation dropped as low as 93.3% in the first Altair epoch (exact number to be confirmed). Participation is now above 95%.”

Since July, Ethereum’s price has skyrocketed by 246%, and Marc Cuban together with other major investors calls this digital asset the most promising coin from the investment viewpoint. Vitalik Buterin, the Ethereum founder, stated that Ethereum would allegedly replace Bitcoin as the main protective asset against inflation.

At the moment of writing, the price has dropped to $4 318; meanwhile, crypto supporters focused their attention on the asset, waiting for another surge.