According to the Ethereum founder, Vitalik Buterin, the Layer 2 scaling solutions on the Ethereum network will revolutionise the crypto sphere by facilitating the safest and most sustainable way to scale Ethereum while preserving decentralization.Įarlier this October, Buterin spoke at the 2021 Shanghai International Blockchain Week, claiming that Ether’s L2 will resolve the issues of scalability. With Ethereum’s upcoming L2 scene heating up, the ultimate alt-coin is gaining more traction with each passing day. While eminent players like El Salvador, bought more of Bitcoin, Ethereum Price conveniently exceeded its $4k mark, while Bitcoin continues to struggle in breaking the $50k bracket. However, the crypto sphere is back on track after its flash sale. Furthermore, the market cap dropped by nearly 20% with the loss of over $500 billion. Last weekend, in the most unanticipated crypto market crash, the decentralized industry was hit with its highest liquidation recorded in past 15months, with more than $2.5 billion worth of leveraged positions getting liquidated in merely 24-hours. According to Google Trends list of the most searched news across the world, ‘Dogecoin’ and ‘Ethereum Price’ secured its place amongst the top ten. However, surprisingly, in a recently published list by Google trends, it was determined that Ethereum and Dogecoin were more news worthy than the OG Bitcoin. As the crypto market began to pick up its bullish pace again, despite the most unexpected crash last weekend, it has become evident that virtual currencies are here to stay.
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