At 10:00 CET, Ethereum hit $ 501 in Coinbase and other major cryptocurrency exchanges for the first time since July 18, 2018. However, the second largest cryptocurrency on the market dropped to $ 495 shortly thereafter. Since the beginning of the year, the price of ETH has increased by 284%.
NewsBTC’s Aayush Jindal believes Ethereum’s price could reach $ 520 if it manages to consolidate above $ 500. Cointelegraph’s Rakesh Upadhyay also thinks the cryptocurrency could reach $ 520, however, he is more optimistic and believes it could even reach $ 550. .
Meanwhile, the Ethereum hashrate is growing. According to The Block, the seven-day average surpassed 256 terahash per second (Th / s) yesterday, its all-time high.
The surge in ETH prices comes at a time when the date for Ethereum 2.0’s zero phase launch is far from clear. Initially, it was planned to start on December 1, however, the current asset entry rate in the deposit agreement is not sufficient to meet the deposit volume requirement.
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