Hello, community! There’s something Ethereum and affiliate marketing have in common — every year people try to declare them dead, and yet they just won’t die. Spoiler: they probably won’t for a very, very long time.
All jokes aside, Ethereum is the second most important coin after Bitcoin. Without it, the crypto industry — with all its altcoins, stablecoins, and everything else — wouldn’t look the way it does today.
And today we’re talking about a major update to the Ethereum network — one that’s meant to reignite interest in the coin and its entire ecosystem. But will it actually work? Let’s break it down!
When Was Ethereum Created and How Has It Evolved?
Ethereum was first introduced as a concept in 2013. At that time, it only existed on paper. But it didn’t take long to go live — by 2015, the project had launched: first as “Frontier” in March, and then as the Ethereum Frontier Network in July.
Later that same year, in September, the Ethereum Wallet appeared. But the first stable version of Ethereum — the one we use today — emerged in early 2016.
So, technically, Ethereum is already over 10 years old, counting from the early releases. And during that time, both the coin and its ecosystem have changed a lot.
Many consider 2022 the most pivotal year in ETH’s development. That’s when Ethereum 2.0 was released, bringing:
- A shift from proof of work to proof of stake
- The merge of the Beacon Chain with the Ethereum mainnet — known simply as “The Merge”
Put simply, after the update, ETH could no longer be mined. The only way to earn it was by staking — locking your assets to support the blockchain in exchange for rewards.
The update received mixed feedback. Miners were upset, while regular investors were more enthusiastic. But every time ETH drops in price — or when something like XRP overtakes it in market cap — people blame Ethereum 2.0.
Is that fair? It’s subjective — and honestly, not the point right now. What matters is that the network just received a major new upgrade: one that could shift the spotlight back onto ETH. So what’s in it?
What Is Ethereum Pectra?
The new Pectra upgrade focuses on improving smart contract usability. If you’re only using ETH for basic transactions, you won’t notice much change — maybe slightly faster speeds and, in the future, lower fees.
But from a technical perspective, this is a big deal. The full impact will only become clear over time, since Pectra has just launched as we write this overview.
Here’s what we know so far:
- It improves network scalability. Ethereum can now handle more transactions, which is crucial given the growing number of users and projects. This upgrade also future-proofs the network.
- It enhances security protocols — especially for smart contracts. But it also boosts overall user data protection.
- It reduces gas fees through network optimization. Lower fees mean cheaper transactions, which should attract more users and projects to the chain.
- It introduces smart accounts. These allow users to perform multiple transactions, use different tokens, and enjoy an experience closer to that of an exchange — all from within the Ethereum network.
Developers also released new EIPs (Ethereum Improvement Proposals). Think of these like patch notes or a roadmap for Ethereum’s future.
The standout proposal is EIP-7002, which simplifies the process of unstaking ETH via smart contracts. This benefits users more than the network itself — making staking more flexible and automated.
Another important update is EIP-6110, which aims to boost transaction security and speed.
Other EIPs focus on better scalability, large-scale staking improvements, and network optimizations.
Ethereum Price and Its Impact on Altseason
Now let’s talk about what might matter most — the price.
In its 10+ years, ETH has hit new ATHs (all-time highs) multiple times. But it started from just $3 back in August 2015.
And if you think it always went up — nope. It even dropped to 40 cents. Then it reached $400 in 2017, and $1,345 in January 2018 during the first major altseason — fueled not only by ETH but by altcoins like Ripple.
The all-time high in USD terms came in 2021 at over $4,890 — during the NFT-driven altseason.
During the latest bull run in March 2024, ETH climbed to $4,070 — amid hype around the next Bitcoin halving. But it didn’t beat its previous ATH — unlike many competitors. Why?
We’re still seeing Bitcoin dominance, with no signs of it slowing down. More money keeps flowing into BTC, which is bad news for altcoin holders.
Still, the crypto market is always changing. No one knows what’s coming next.
Right now, ETH is showing signs of growth — trading around $2,400, up 25–30% from its pre-upgrade price. That’s partly due to positive macroeconomic news and BTC breaking the $100,000 barrier — heading toward new highs.
If ETH can maintain this trend — and avoid crashing right after BTC — it could kick off another altseason. History shows it usually starts when no one expects it.
Important: ETH doesn’t trigger altseasons, but it’s a key signal of growing altcoin interest. As the second-largest crypto, it reflects market sentiment. And maybe — just maybe — Pectra will be the catalyst. After all, altseasons often start with the least obvious triggers. Could history repeat itself?
Conclusion
Ethereum is a phenomenon — not just the coin, but the entire ecosystem behind many modern altcoins, memecoins, and more. Sure, some of those projects turn out to be scams. But the industry is alive, growing, and bubbling — especially now.
The Pectra upgrade aims to keep Ethereum competitive — especially against Solana. ETH’s price is recovering after hitting recent lows.
Adding to the buzz: news that developers are deliberately burning coins to push the price higher and attract new users. This could create a domino effect — where each move leads to even greater growth for ETH.
Even ETH-based meme coins are gaining in value. So the current trend is looking exciting and full of potential. Let’s hope for more good news to keep driving prices up. If not an altseason, maybe another bull run is just weeks or months away.
But hey — this isn’t investment advice. It’s a post from enthusiasts for enthusiasts. To stay up to date with crypto, follow our CryptoGeek channel and join our Telegram community! You’ll learn not just how to invest, but maybe even how to run traffic the right way. If you’re lucky.
Respectfully, your Geek!