Ethereum Market Witnesses Surge, Amid Launch-Hype of ETH 2.0

Akhilesh Agnihotri
Akhilesh is an engineer and research subordinate working with thecoinrepublic.com as a part of the research team and do research work on Cryptocurrency and Blockchain. His curiosity in research and writing brings him to thecoinrepublic.com, He believes writing is all about expressing the thoughts with words and spread information backed by well-researched work.
  • According to analytical data, as of June 5, ETH has risen by 18% from the previous month and 85% overall since last year.
  • Many ETH-based decentralized applications will allegedly reach their true potential after ETH 2.0 is released with all its claimed updates.
  • A slow hype process has started since the upgrade has been pushed time and again from the start of 2020.

The Ethereum market has just witnessed the second round of rising this year. The new round of surge started two months after the first surge. Moreover, it is just one step away from $283, the annual high in February. Since the Bitcoin Halving, the price of bitcoins has been quite disappointing. It is still swaying between $9,000 to $10,000. This could mean a good market opportunity for ETH.

ETH Price Trends 

According to analytical data, as of June 5, ETH price has risen by 18% from the previous month and 85% overall since last year. In addition, this is the second time ETH spiked in value this year. Hence crypto miners are looking forward to it joining the bull market. 

The entire cryptocurrency industry has been awaiting the release of Ethereum 2.0. It is beyond doubt that the two surges are somehow related to this anticipated update. A slow hype process has started since the upgrade has been pushed time and again from the start of 2020. This external factor can also enable an increase in its future price. 

Top ETH wallets now have an aggregate of 21.8M ETH and have hit a 10 month high. The value of ETH equals a cumulative total of $4.5 billion. The panic buying trends among investors will most likely cause future surges in ETH price.

Ethereum 2.0 Expectations 

Many ETH-based decentralized applications will allegedly reach their true potential after ETH 2.0 is released with all its claimed updates. This will allow a high usability and functionality platform for the DApps where it can put to test its capabilities and expand functionality.

The progress of Ethereum 2.0 is now said to be directly in sync with the progress of the entire public framework of the blockchain. The series of new updates will hopefully solve the low running performance of Ethereum and introduce ETH to the bull market.

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