Ethereum had a less than stellar Q3, intense 6 months ahead as ETH 2.0 looms

he plaBy now, you should almost certainly know about Ethereum, ETH the second largest cryptocurrency by market cap. But if you needed a quick recap, here it is.

Ethereum’s creators wanted to build a platform that would allow users all over the world to write decentralized applications, and use the Ethereum blockchain as a “world computer.”

The decentralized platform made smart contracts a key part of the blockchain conversation, and demonstrated to the world how blockchain technology can be used for more than just cryptocurrency.

It sounds great, but bringing the Ethereum vision to life is proving difficult for its  community of supporters and developers.

One of the most contentious topics of the moment for the platform and one of its creators, Vitalik Buterin, is the transition to ETH 2.0. The series of updates and improvements designed to make the Ethereum platform faster and more reliable will not be implemented overnight. It’s going to be a long process, that’s due to commence next year, but won’t be complete for many more months.

One of Ethereum’s founding members, Joseph Lubin, has said that the updates should make Ethereum far more scalable within the next 24 months. But of course, a lot has to fall into place for that fact to be realized.

Before we take a look at how Ethereum has performed in the third quarter of the year, let’s remind ourselves how things went down in Q2.

Q2 performance recap

In terms of trading price, Ethereum had a solid second quarter.

At the start of April, Ethereum experienced a rally which saw its price increase by 27 percent from $139 to $177. Unfortunately, this uptick in price was short-lived — by the end of April a market correction pulled Ethereum’s trading price down to $150.

Thankfully, the correction didn’t have a lasting effect on Ethereum, and over the course of May the digital coin showed nothing but steady growth. Over the four weeks of May, ETH‘s price increased a whopping 95 percent, topping out at just over $271 per coin.

Credit: eToro