Ethereum soared above $500 for the first time since 2018 as the rally in crypto currencies intensified.
Ethereum has been the talk of the town in recent months as the crypto community anticipates the release of Ethereum 2.0, a massive upgrade to the Ethereum network that aims to solve long standing scalability issues plaguing the Ethereum network.
But while investors wait for this upgrade, Ethereum’s price has kept rising.
“Ethereum has the network, it has the attention and now we are starting to see the true price discovery start,” Charles Storry, co-founder of PhutureDAO, told Decrypt.
This recent price increase adds to solid growth over the last month, with Ethereum’s price having risen from $375 on October 20, 2020. What’s more, Ethereum began the year at just $130. That means this represents a 33% increase in the last month, and a 284% gain on the year so far.