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- The process to merge Ethereum and Ethereum 2.0 on
- ETH fortune soars without any hiccup
- BTC fortunes fluctuate in comparison
The fortunes of ETH have surged as the crypto coins surged past $3K. The all-time high was achieved amid an ongoing process to merge Ethereum and Ethereum 2.0. as per a report by Coindesk.
ETH scaled new heights this week as developers are working to Fastrack the amalgamation of Ethereum and Ethereum 2.0. ETH prices reached $3000 for the first time on May 2. On Tuesday, ETH reached $3,300, and by Wednesday, the second most valued crypto token was being traded at $3500.
The ETH prices have surged continuously over the years. The inevitability of digital money becomes a part of the financial setup has increased investors’ confidence in decentralized finance (DeFi) and non-fungible tokens (NFTs).
Ether is all set to reach new goals and is finally come out of playing second fiddle to Bitcoin, according to Edward Moya, senior market analyst for the brokerage Oanda who was talking to Coindesk. As compared to poor performance by Bitcoin(BTC), Ether has maintained its bullish trend all through April and into May.
There has been a major change in investor mindset when evaluating the two cryptocurrencies –ETH and BTC. Since April 2020, the correlation between ETH and BTC has declined from 0.9 to below 0.7.
Eth 2.0 validator rewards
Post ETH’s price rally network rewards were issued to both Ethereum miners and Ethereum 2.0 validators, and they became more lucrative. Ethereum 2.0 network was launched in December. 1.
Since then 2020, daily validator rewards have increased from roughly $200,000 to $3 million. Miners’ earnings also increased from $11 million in December to over $82 million by April as per BeaconScan and CoinMetrics.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
