Ethereum Reaches $600 and Surpasses All-Time Previous Highs
For the first time since the summer of 2018, Ethereum has achieved new heights in the crypto exchange market. Ethereum rose fourteen percent to a price it hasn’t accomplished in two years. By finally hitting $600, the cryptocurrency increases in value over its previous records of only $500. As the crypto market begins to expand and flourish, Ethereum has found its chance to shine. Within twenty-four hours, Ethereum coins’ value shot up because of the market’s anticipation for Ethereum’s 2.0 release.
Bitcoin undoubtedly faces bull run activity at the end of 2020, which has contributed to the rising price of Ethereum units. Traders can’t deny that Ethereum has been rising in value since August of 2020, but professional data analysts predicted the increase to level out sooner. In the final weeks of August 2020, Ethereum topped out at $389, but it soared to an upward of fifty-four percent. The majority of crypto traders feel a silent rally has fallen upon crypto exchange platforms because of the recent rising in COVID 19 cases across the world.
Ethereum Proudly Increased Previous Market Caps
Thanks to the recent price spikes, Ethereum has increased previously limited market caps. The cryptocurrency’s market cap once maxed out at sixty-six billion dollars in value, but the consequences of recent events have brought its market cap up by twenty-eight percent. Since August of 2020, Ethereum has increased its total market cap by thirty-four percent, which is an impressive feat.
Ethereum’s trading volume has become positive indicators of its eleven billion-dollar growth within one week. Data shows the trading volume of Ethereum has exploded during the last three months by one hundred ninety-six percent. The unheard rises have shattered records and allowed cryptocurrencies to prove to society that digital currencies offer viable real-world solutions.
The Rise and Fall of the Year's Final Market Analytics
The close of 2020 has left traders in shock thanks to the rollercoaster increases and decline in Ethereum’s prices. While the crypto’s price started strong in September, it experienced jarring dips by the middle of the month. 2020 has been a crazy year for everyone globally, but crypto traders have received far more than they bargained for. Aside from the thriving value of Bitcoin, Ethereum has strong current performances on several market exchanges. With the launch of Ethereum 2.0 just around the corner, the upgrade will revolutionize the coin’s scalability issues.
The new upgraded features of Ethereum 2.0 are scheduled to hit in December 2020. However, the network cannot launch without a stake value of 524,288 ETH or three hundred fifteen million dollars. While the crypto mogul has staked approximately half of the required funds, it likely won’t launch by the expected date.
Ethereum Growing Faster Than Bitcoin
Ethereum has started growing in value faster than Bitcoin. Traders focus their primary attention on Bitcoin’s skyrocketing price increases, which has caused them to miss out on the growth of Ethereum. In contrast to Bitcoin’s thirty percent growth in ninety days, Ethereum has achieved an approximate gain of fifty-four percent in the same timeframe.
Most of the top cryptocurrencies have elevated as the calendar year draws to an end. Undoubtedly, Bitcoin and Ethereum typically rule the crypto exchange market, but XRP remains exceptionally competitive.