The highest weekly Ethereum weekly growth in the last 6 months; Is the increase in the value of ether against bitcoin?

Ethereum prices rose by 5 % over the past week to see its digital currency grow its highest weekly since July. Recent positive changes in the Ether Tuki economy will probably help this digital currency surpass the market leader in terms of price performance.

According to Kevin Desk, the recent update of the Ethereum Intelligent Contract platform has affected the rise of its native token token, Ether.

Kevin Desk’s data shows that the price of Ethereum has risen by more than 5 % in the week ending October 5. This has been the highest weekly growth of Ethereum in the past six months, with a 5 percent increase in bitcoin prices.

Jordi Alexander, Chief Investment Manager at Selleni Capital, said:

Both original digital currencies (ultimately) will grow their own; But as people are still adapting to the recent (post -attribution) economy, the Ether move will be faster.

Ethereum, on September 9, changed its consensus mechanism from proven work to prove stocks and replaced extractors with validation; Institutions that share the capital on this platform and are responsible for verifying the transactions.

Since the update of the current, the supply of ethereum has increased by 4.3 units. Now, if the China block continued to use the work mechanism, net supply could have increased by more than 1.5 units during this period.

According to the data obtained from the Ultrasound.money website, the net atrium export rate, also known as the annual inflation rate, has fallen from 4.9 percent to zero; Lower Bitcoin’s annual inflation rate.

However, the data of the China Block Analysis Company “Intotheblock” shows that the net ethereum export rate has actually declined below zero. In other words, Ethereum has become an anti -inflation asset; A coin that decreases over time instead of increased. This is when investors around the world face a shortage of assets that can protect their money from unprecedented inflation.

Ethereum will probably continue to perform well

Compared to the Ethereum to Bitcoin, which measured the price of Ethereum compared to Bitcoin, it has grown by 5 % last week and recorded the highest increase since July. According to prominent traders, the upward trend of Ethereum value against bitcoin can continue.

Josh Olszweicz, head of the Research Department at the Valkyrie Investments Digital Fund Management Company, told Kevin Disk:

Ethereum will probably continue to perform better than bitcoin; Because its annual issuance rate is declining rapidly. Therefore, by the mechanism of burning the transaction fee on this network, any increase in on-chian activities should definitely enter the Ethereum into the territory of anti-export (assets), which may have a significant effect on the price of this digital currency.

Ethereum activated a mechanism in August last year, which burns part of the commission of users’ transactions paid to the network. This mechanism has basically tied the number of burned or outdated ethereums to the extent of the Ethereum China block.

Therefore, as Olieswich said, increasing network use is more likely to divert supply and demand for the benefit of Ethereum buyers. According to Ethburned.info statistics, more than 1.5 million Ethereum’s valued from the circulation since August last year, with $ 1.5 billion.

Shiliang Tang, chief investment director in the Digital Currency Fund, Ledger Prime has said that the attractiveness of Ethereum’s anti -inflammation will increase over time and will attract investors.

Tang says:

Currently, many of the funds have been attracted to the Ethereum story more than bitcoin. I expect Ethereum to maintain its superiority over bitcoin; Because the anti -inflammatory nature of Ethereum will gradually feel over time.

He added.

As the current price continues (about $ 1.5), Bitcoin will continue to face a surplus of supply by the miners.

Changing the Ethereum Network’s mechanism to prove stocks has forever rid of the market from the impact of the daily sales pressure of the miners. According to Cumberland, Ethereum extractors sold $ 5 million daily. Bitcoin continues to use the mechanism of proof of work; Where the extractors solve complex algorithmic puzzles for transactions validation in exchange for rewards. These miners usually criticize their assets on a regular basis to finance the extraction operation.

Macroeconomic problems continue

While Ethereum’s fundamental analysis emphasizes the continuation of the uptrend, the digital currency is still vulnerable to macroeconomic problems.

Many expect the Federal Reserve on Wednesday to raise the bank interest rate by 4.9 percent for the fourth time, and its managers will provide clues to a less accepted approach to the coming months. Expectations for the Federal Reserve’s position to turn a more gradual contractionary policies have pushed the market to invest in risky assets, including digital currencies.

However, if the Federal Reserve’s position on a more gradual contractionary policies is accompanied by the message that key rates can still be high for longer, sales pressure will probably return to the market.

Nick Timiraos of the Wall Street Journal, somehow known as the Federal Reserve spokesman, said in an article published this week:

The central bank can keep interest rates high for a longer time; Because consumers and businesses are less sensitive to the contractionary process of current monetary policy. The 5 percent increase in the federal Reserve this year has disturbed the asset markets.