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(ETH) strengthens its position after Vitalik proposed a new proposal.
The price of Ethereum remained above $1820 throughout the weekend, showing relative strength compared to Bitcoin, which fell below $96000.
According to CoinGecko, the price of ETH has increased by 15.7% over the past 14 days, while the price increase of Bitcoin was modest at 12% during the same period. Daily trading volumes for ETH have remained high above $7 billion, reflecting strong market participation.
It seems that investor sentiment has been boosted by the latest technical comment from Vitalik Buterin. The Ethereum founder published an article on May 3rd about the importance of protocol simplicity, stating: "One of the best features of Bitcoin is its simplicity... Let's add these advantages to Ethereum."
His proposals indicated a simplification of the Ethereum design, a step that may aim to address criticisms regarding the complexity of the execution layer, state management, and maintainability in general.
Despite the lack of details in the proposal, it indicates a philosophical shift - a shift that favors reducing the surface area of the protocol and improving auditability at the expense of maximum flexibility.
This comes amid a broad effort in the sector towards modularity, security, and interoperability. Ethereum's resilience over the weekend and its superior performance suggest that Buterin's statements may have resonated positively with short-term traders.