While bitcoin continues its rise and looks unstoppable, other cryptocurrencies on the market also break their all-time highs (ATH). Now, with an increase of around 5% in the last 24 hours, the price of Ethereum’s native cryptocurrency, ether (ETH), passed $ 2,000 for the first time this Saturday, February 20.
In the early hours of this Saturday, ETH broke the $ 2,000 barrier, as shown in the CoinMarketCap graph. Thus, the second cryptocurrency according to market capitalization has reached an increase of more than 170% so far this year.
In a range of one week, the cryptocurrency of Ethereum has risen more than 12%, going from being below $ 1,800, to the current price. At the time of writing this note, the figure is USD 2,033.
The price of ETH passed $ 2,000 for the first time this Saturday, February 20. Source: CoinMarketCap.
With this increase in its price, ETH has climbed 12 places on the list of the most valuable assets in the world in just over a week, since the last report from CryptoNews. CompaniesMarketCap registrations place the cryptocurrency in 41st position, with a market capitalization of $ 233.92 billion.
With an increase of another 0.3% compared to the current price, the coin would enter the top 40, although in the position it currently occupies, it is already ahead of companies such as Nike, Adobe, Exxon Mobil or Coca-Cola.
ETH is ranked 41st among the most valuable assets in the world. Source: CompaniesMarketCap.
The increase in ETH occurs in the middle of a market with the main cryptocurrencies in green numbers, with the only exception of ripple (XRP), which tries to reverse the negative trend in which it was immersed in recent months.
Rising price awaiting Ethereum 2.0
The cryptocurrency has been appreciating in the midst of a bull market driven by institutional investment in bitcoin, while expectations are maintained for the launch of the Ethereum 2.0 network, a new version that will change the consensus mechanism of proof of work (PoW, the one using Bitcoin) proof of stake (PoS).
After much controversy and delays in plans for Ethereum 2.0, developers affiliated with the project seem to have taken a clear course in recent months, after network startup with the first block mined at the beginning of last December.
Currently, there is already more than 6,000 million dollars in ETH blocked in the 2.0 network through its staking mechanism (ETH possession necessary to participate as network validators).
However still the real migration to the new network is expected to take place sometime in 2022. Meanwhile, both networks coexist in parallel and independently, keeping the expectation before the future of the network that houses all kinds of projects, from other cryptocurrencies, to the now famous decentralized finance platforms (DeFi).