On Friday, Ethereum suffered a chain split due to a bug in the Geth (Go Ethereum) Client software seemingly being exploited by an unknown actor. ETH saw new intraday highs following the critical event.
On Saturday, BTC’s Taproot upgrade received enough support from miners, locking in its implementation for November. According to its supporters, Taproot enables a range of innovations related to BTC-based smart contracts and scaling.
Over the weekend, a Reuters article on Ethereum made reference to the network’s scaling challenges, while research firm Bernstein highlighted “execution risk” related to upgrades in a May research report.
Ethereum Classic (ETC) added roughly USD 8.6 billion to its market cap over the past week. The move is despite major technical issues faced by the network over the past year that’s typical of recent alt-coin action with little fundamental justification.