The price of Ethereum has risen above the $500 barrier for the first time since 2018. The last time the cryptocurrency was above $500 was July 2018.
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 we 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.
But it still has a long way to go if it wants to break a new all-time high.