Ethereum price is closer to Bitcoin than any other token. While BNB will have to grow 6x to catch up with ETH and it will take a lot of energy and work for BNB to come near ETH. Sounds, hyper ambitious. ETH advocates feel that in less than 3 years ETH will be higher than BTC.
Eth needs to grow by 16x to touch BTC price. Ethereum Advocates are like ETH deploys smart contracts and Decentralized apps. Bitcoin doesn’t do neither. BTC costs around 40k and the ETH costs around 2k. ETH has significantly more features than BTC.
Some of them are wondering if all the drawback in price is due to whales bringing ETH down just to buy it off on July 25th cheaper then cheap!
The July thing is expecting the “Altair” upgrade, which is tentatively scheduled for activation this summer, either in July or August.
Altair is a sort of “warm-up upgrade” before the Ethereum blockchain fuses with the Eth 2.0 Beacon Chain and transitions to a PoS protocol.
The Network Participation rate is 99.5% The number of Active Validators is: 141,327 + Total ETH Staked is 4,772, 345 ETH.
Reportedly, The Altair upgrade ups the ante on validator responsibilities. At present, fully inactive validators lose nearly 11.8% of their staked ETH balance. After upgrade, they will lose nearly 15.4%. Validators slashed by network for malicious behavior like double-signing or double-proposing blocks will get fined 0.5 ETH after hard fork activation instead of 0.25 ETH. So, the whole idea is to bring in network penalty for inactive validators.
With Altair Upgrade, the network will not be as forgiving of malicious behavior like before. There will be an increase in slashing and penalty parameters.
Several users recall how they were disgusted by Ethereum gas fees. They have turned to BSC (Binance Smart Chain) and they feel it is way more user friendly. On BSC users are able to be more active in to the NFT market. It is not possible for them to be active on the Ethereum Chain. They don’t want to get killed by gas fees and the slow transactions. Some users simply do not have the patience for it.
Until Bitcoin upgrades with smart contracts! It just looks like BNB is snatching ETH users to its BSC use cases already.