ETH Rallies To $312 Ahead Of Ethereum 2.0
Ethereum is the star of the crypto space today, with ETH surging to more than $300. The whole crypto market looks great, with most coins trading in the green.
ETH reaches a yearly high
At the moment of writing this article, ETH is trading in the green and the coin is priced at $312.92. The coin is up by more than 10% in the past 24 hours.
Bitcoin is up only by 1.78% in the past 24 hours, and at the moment, the king coin is priced at $9,738.10.
Cointelegraph highlighted the fact that this weekend is really important as BTC surged above $9,700, and ETH managed to hit a new yearly high.
The online publication notes that the weekend surge comes as a surprise as the weekends are marked by low trading volume, and it’s also important to mention the fact that lots of traders avoid the markets due to high volatility.
“Currently, the top three DeFi platforms are Maker Aave, and Compound with each having $875 million, $639 million and $616 million locked into an assortment of contracts,” Cointelegraph notes.
The online publication said that Data from DeFi Pulse shows that the decentralized finance sector has grown enormously in 2020 as the value locked at the start of the year was slightly below $1 billion.
Cointelegraph contributor Michael van de Poppe stated the following: “A major parabolic move is unlikely to happen so soon, as the price has some untested levels above, namely $9,900 and $10,100.”
Ethereum 2.0 is around the corner
Ethereum’s Vitalik Buterin said that Ethereum 2.0 would definitely be launched this year.
He said that he does not believe that the rollout of Ethereum 2.0’s initial stage that’s called phase 0 should be delayed.
We recommend that you check out this AMA in order to learn all the details.
Other than this, ETH is surrounded by optimistic predictions, and this is mostly to the DeFi’s growing popularity.
Vitaly Dmitriyevich "Vitalik" Buterin is the co-founder of Ethereum, the world's most popular smart contract platform that enables developers to build decentralized applications (at the time of wirting this, ETH has a market cap pf $2B). Prior to his development of Ethereum, Buterin was the co-founder of Bitcoin Magazine.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.