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