This website uses cookies to ensure you get the best experience on our website


12th Mar 2021
Dalmas Ngetich, for CryptoAltum News Team

Shift to Ethereum Proof-of-Stake will be 'Sooner than Expected'

A recent post from ConsenSyssuggeststhat the shift to a Proof-of-Stake consensus algorithm, away from Proof-of-Work, will be sooner than expected. Overly, this is a net positive. A boost for the ETH price that's still trending below $2k bogged down by uncertainties around how best to handle the prohibitive Gas fees in an environment of relatively high demand and faster client on-boarding.


Ethereum's price hindrance in the immediate term revolves around scalability and fees. DeFi remains on an uptrend, currently with a TVL above $40 billion. More users are also flocking to NFTs, highlighting the level of network utility. The shift to a scalable Proof-of-Stake will relieve users of thehigh Gas fees. Consequently, it may blow the ceiling for ETH/USD prices to rally above Feb 2021 highs to possibly $10k as projected by Anthony Sassano, an Ethereum evangelist and permabull.

Impact on ETH Prices:

Bullish. Traders are optimistic, and Ethereum's revenue could surpass $9 billion going forward. The elimination of high transaction fees through a shift to Proof-of-Stake, riding miners, will be a shot in the arm, helping ETH/USD bulls flex while targeting new 2021 all-time highs.

More market news over on ourBlog

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020