Ethereum 2.0 is Out Now, But Can It Beat Bitcoin?

The world’s second-largest cryptocurrency has a few tricks up its sleeve

Isaiah McCall
ILLUMINATION-Curated

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Image from Canva

Ether, the world's second-largest virtual currency is on the move — and it’s making investors rich. Earlier this week Ethereum 2.0 launched and will make Ether faster and more secure. The upgrade allows for thousands of more transactions to take place every second.

This year, Ether is up 350%. Furthermore, it brushed an all-time high of $600 for the first time since June 2018. In case you don’t have $19,000 laying around to invest in Bitcoin, now may be the best time to look into Ether.

“As the ETH 2.0 launch date approaches, it seems to be a growing correlation between $ETH price,” said Ki-Young Ju, CEO of CryptoQuant. He indicated that Ethereum holders may benefit from more market optimism as the update arrives.

Prior to 2.0, Ethereum’s blockchain technology wasn’t seen to be as scalable as Bitcoin’s network. In 2017, for example, the popularity of an Ethereum-based game called CryptoKitties caused the network to become heavily congested, significantly slowing trade.

Ethereum 2.0 plans to change that. And with it’s more advanced capabilities, the market gap between Bitcoin and Ether could shrink.

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