- The platform has reduced transaction call data.
- The foundation, also set up to build an expanded sharding technique.
On Monday, the trading volume of Ethereum rose 15.82 percent, avoiding a severe negative trend. However, the whole crypto market has been steadily retracing prior highs. However, Ethereum’s inventor Vitalik Buterin warns that rollups may face scale and gas cost issues.
The top altcoin’s price fell in September because of the Chinese market volatility. Before the colossal leg up, the asset had a considerable potential of roughly $2900-3100. However, on November 15th, the ETH price rose steadily to $4700.11.
$5555 Price Level by December End
Moreover, the asset has corrected after the big surge. However, the asset has recently gained considerable support around the $4000 level. Eloquent, a crypto expert, forecasts Ethereum will reach $5555 by the end of December.
Vitalik Buterin, the co-founder of Ethereum, revealed a plan to grow the network and reduce transaction costs. New rollups might help the Ethereum network’s scalability issues and high transaction costs in the short, long, and medium-term.
A roadmap for how data space available to rollups can be greatly expanded (and hence rollup fees greatly reduced) progressively, starting from calldata gas cost reduction and continuing with step-by-step rollout of sharding:https://t.co/TixzvKInSN— vitalik.eth (@VitalikButerin) November 25, 2021
The current rollups use call data. So, to improve rollup and reduce costs, the platform has reduced transaction call data. The foundation was also set up to build an expanded sharding technique to provide high security and protect trader data from future cyber-attacks.
Overall, the Ethereum price increase seems to be on track. If the asset follows the October trend pattern, it will easily reach the December objective of $5555. However, the foundation has planned multiple rollups to fix current issues, so feelings remain positive.
According to CoinMarketCap, the Ethereum price today is $4,425.89 USD with a 24-hour trading volume of $19,758,738,664 USD. Ethereum is up 8.53% in the last 24 hours.