Ethereum Surges 10% Higher As DeFi Rally Continues, ETH2 Inches Closer

Ethereum Surges 10% Higher As DeFi Rally Continues, ETH2 Inches Closer

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Ethereum has surged higher in the past 24 hours by nearly 10%, pushing as high as $520 for the first time since 2018. The leading cryptocurrency is currently outpacing Bitcoin on a daily basis, though is still underpacing BTC on a multi-week basis.

Analysts think the cryptocurrency will surge even higher in the weeks ahead as the trend still seems to be positive for the top TradingView.com

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ETH2 Update

Ethereum Foundation developers have been giving updates about the upcoming upgrade, ETH2 or Serenity. The upgrade is expected to dramatically overhaul the blockchain and implementing new token-economics.

Ethereum founder Vitalik Buterin recently commented on the token-economics of ETH2:

“In two years the main task will be to stabilize and cherish what we will have built. Until then, participation in Ethereum is unavoidably in part a prediction that the roadmap is a good one and that once this upgrading process ends we actually will get to a place where the network is efficient and stable and powerful and capable of being the base of significant parts of the global economy.”

Analysts think the upgrade will drive prices higher as investors seek to buy Ethereum to stake in mass quantity.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
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Price tags: xbtusd, btcusd, btcusdt
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Ethereum Surges 10% Higher As DeFi Rally Continues, ETH2 Inches Closer