Guy Turner believes that the EIP-4844 update will be crucial for the ETH network

Guy Turner, a well-known host of the cryptocurrency channel Coin Bureau on YouTube, believes that in the medium term, there are two prerequisites that can affect the growth of Ethereum’s rate. The key factor the expert considers is the EIP-4844 update, which should introduce a preliminary sharding mechanism for the ETH network.

“A powerful milestone should be the EIP-4844 update, which the community calls “proto-danksharding”. This update will become extremely important because, in theory, it will give Efirium the ability to scale as well as centralized systems. The main problem in scaling Ethereum remains data availability, and EIP-4844 should solve it. For this purpose, special data blobs containing transaction information are envisioned,” said Turner.

In addition, he pointed out the significance of the privacy issue. According to the expert, Ethereum developers are extremely interested in solving this issue.

“The huge attention to privacy and security is unsurprising if you think about institutional investors. It’s a cornerstone for them,” Turner believes.

Earlier, StormGain expert Dmitry Noskov voiced a short-term forecast of ETH behaviour. According to him, the price of Ethereum this month may be affected by other decisions of the SEC. The “health” of the asset is affected by how the regulator will behave about the crypto market.

In June, the U.S. Securities and Exchange Commission added to its “blacklist” of digital currencies that are allegedly illegally issued securities. Ethereum, despite the SEC’s interest in the asset, was not included in the list.

“Earlier, market participants feared that ETH might get on the list of digital currencies that the regulator considers securities. However, during the legal battle between the SEC and the Ripple companies, documents were made public, according to which the SEC still rather considers Ethereum a commodity — just like Bitcoin. If the regulator officially voices this stance on ETH, the token’s exchange rate could rise to $2'000 or more in July. If it is recognized as a security, the Ethereum exchange rate will rush to $1'000,” summed up Dmitry Noskov.

What do you think about it?