The price of the second largest crypto in the market has reached today $470 for the first time since July 2018. Over the past 24 hours, the price of the crypto has jumped by 10%, which represents an increase of 254% since the beginning of the year. For its part, the market cap of the coin has reached $52.8B.
The Ethereum creator Vitalik Buterin recently said the update of the crypto to its second version has caused more difficulties than expected. However, he has highlighted the transition to Ethereum 2.0 will eventually take place, as no fundamental issues have been found.
Analysts also expect the launch of the yETH product by the popular DeFi yearn.finance project will have a positive impact on the Ethereum market.
The tool allows its users to automatically generate the highest interest or "yield" across decentralized finance (DeFi) protocols when they stake Ethereum holdings.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.