Ethereum (ETH) recently tested a new yearly low after plunging deep. The digital currency declined to the $209 mark, which is its lowest level since mid-September last year. The digital currency has seen a heavy decline in its value after Bitcoin (BTC) dropped significantly by about $1k on the contentious news that Goldman Sachs is ditching its plans to launch a digital currency trading desk.
While the confidence of investors in Bitcoin (BTC) is still unfazed, a lot of altcoin holders have since begun to worry, with Ethereum (ETH) attracting particularly no-confidence votes over the past months. According to a report in July, for instance, a dedicated “Bearish Thesis” on the digital currency from Tetras Capital illustrated a grave outlook, claiming that the already deflated value of the digital currency was still “considerably overvalued.”
Commentators have also pointed to similar motivating factors behind the fall of Ethereum (ETH) as stated by Tetras. One of the factors includes the retreat of last year frenzy, which saw the digital currency monopolize token issuance.
Ethereum (ETH) Unveils Ethereum 2.0 Roadmap
The grand plan of Ethereum (ETH) for the future still continues in the background despite its price trend, with Darren Langley, the senior blockchain developer of Rocket Pool – a decentralized Ethereum Proof of Stake pool – releasing an overview of the roadmap of Ethereum 2.0 on the 7th of September. He said there are a lot of smart talented people working on the blockchain of Ethereum to make it awesome.
Ethereum 2.0 – which includes innovations including Sharding and Casper – is being developed in a decentralized manner. Langley added that “Ethereum 2.0 has an organic quality that will contribute to how firms can scale up but remain inclusive.”
Ethereum (ETH) Price Today – ETH / USD
At the moment, Ethereum (ETH) is changing hands at $218 after a decrease of about 4 percent over the past twenty-four hours. ETH currently has a market cap of $22.22 billion and its trading volume over the past twenty-four hours is $1.55 billion.