Is Ethereum going Up due to Update for ‘’Istanbul Network’’

Ethereum is down in terms of price but still grooming when talked about the developments done on the platform. The Istanbul Network update is going to happen on Dec.07 according to the estimated time.

Price value is down

As the overall crypto markets are affected by the bearish trend, Ethereum like Bitcoin dropped very much in the last two months. If we talk about this year, the coin hit the position of $350 which gradually degrade and currently it is standing $153.

The estimated dump value shows that it decreased by 60% year to date and more to say, it dumped by 90% from its highest price of all time. But the coin is not alone in the retreat as the major coins of markets such as Bitcoin is also crashing and hovering at its lowest position of the year.

Some calling it Scam

Bitcoin developers have been sharing their sentiments against the Ethereum on social sites and calling is a scam. The conflict between both parties is continued for a long time and every time, a platform comes with a new thing, the opposite party comes with a lot of criticism.

However, some recognized crypto enthusiasts defend the Ethereum network. For example, Bruce Fenton, the CEO of Atlantic Financial, talked in support of ETH during an interview.

He said:

I don’t think it’s a scam. It was honest in the way that it was presented… [and the coin] built this multi-billion dollar ecosystem with hundreds of companies and projects.

Instanbul-Update is Coming

It is reported to Tokenhell that the update for Insatnbul Network is scheduled for the next week-estimated to happen on Dec.7. And there are some improvements which they are going to add in this update. These improvements are six in number including network cost, security and interoperability-the most important improvements for the need of the hour.

It is expected that the update will have a significant effect on the coin price value. But it is also the fact that Eth wallets will not get any improvement in this update which may not affect the price.

Adeline Gibbs

Adeline Gibbs is a writer and a vital contributor to Tokenhell. She always stay up-to-date with latest happenings in crypto world.

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