Analysts Eye Ethereum Move to $800 as ETH2 Upgrade Nears
Ethereum is exploding higher as Bitcoin has pushed to new year-to-date highs just shy of $20,000. The price of the leading cryptocurrency currently is $615, slightly below the year-to-date highs but far above where it was just a week ago. Bitcoin and Ethereum’s latest surge higher comes seemingly as a result of institutional buying pressure. […]
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Ether price declined sharply alongside Bitcoin even as the long-awaited Eth2 mainnet launched successfully. The price of Ether (ETH), the native cryptocurrency of Ethereum, plunged harder than Bitcoin (BTC) in the recent pullback. After reaching an all-time high on Coinbase, the price of Bitcoin fell steeply by over 9% within several hours. In the same period, Ether corrected by over 11%, following a marketwide pullback.The deep correction in Ether comes as a surprise because of the Ethereum 2.0 network upgrade launch. On Dec. 1, the Eth2 Beacon Chain released on the mainnet, marking an....
Ethereum is expected to shoot higher in the weeks ahead despite the recent price consolidation. The cryptocurrency has held well in the high-$500s despite some downward pressure in the Bitcoin price. Analysts think that ETH could push toward $900 and beyond in the near future, especially due to the positive fundamental event of the ETH2 launch. Boosting Ethereum’s prospects, analysts are also bullish on Bitcoin. Ethereum Could Shoot Even Higher, Leading Analysts Say Ethereum is […]
But ETH2 is not a new cryptocurrency and the exchange appears to be prepping for Ethereum's transition to Proof-of-Stake. Cryptocurrency exchange Coinbase has added a mirrored version of the Ethereum blockchain's native token Ether (ETH) to its crypto price index, just ahead of a key network upgrade on Dec. 10.Dubbed "ETH2," the symbol appeared to have been tracking the original Ether market data synchronously. For instance, the cost to purchase ETH2 came out to be the same as that for ETH. Meanwhile, their market capitalization, volume, circulating supply, and price changes were also....
Ether price has surged above $580 in recent days, but the impending release of Ethereum 2.0 isn't the only catalyst driving the current rally. Alongside the high anticipation for Ethereum 2.0, the high time frame breakout and daily gas usage on Ethereum remain key positive factors.Eth2 momentum accelerates in correlation with priceThe Eth2 mainnet will launch when the number of Ether (ETH) staked in the Eth2 deposit contract address hits 524,288.Data from CryptoQuant found that the value staked in the Eth2 deposit contract address is showing a correlation with the ETH price.ETH price....
It is one of the first steps towards Phase 1.5 that will ‘dock’ Eth1 with Eth2. Blockchain security provider Sigma Prime has announced its first merge transaction between the two Ethereum networks.The transaction was made by its Lighthouse client using only Proof of Stake validators, it stated in a March 25 tweet. It added that this was a step towards a 99.98% drop in Ethereum energy consumption, deriving that figure from calculations that compare the current Proof of Work Eth1 with the much more efficient Proof of Stake Eth2.Sigma Prime stated that it is an exciting achievement but still....