- The ETH price rally to $4255 CAD is followed by a high rise in the active Ethereum addresses.
- This is for the first time that ETH and ETH 2.0 communicated which is essential for a smooth transition from Proof of Work to Proof of Stake network.
- Click here to start your staking of Ethereum 2.0 with iMining now.
Etheruem (ETH) continues its upward trend 5% growth every single day. At the release of this, Ethereum (ETH) is trading at a new all-time high of $4255 with a market cap of $340 billion. The world’s second cryptocurrency to cross the key milestone of $3000 USD for the first time in its history.
Over the last week, the ETH price has surged ~35% to hit the new milestone today. This latest ETH price rally comes as the number of active ETH addresses continues to make a historic rise.
On the other hand, the developers’ network has successfully completed the launch of Ethereum 2.0 Testnet Steklo. This is the first full Proof of Stake (PoS) communication between different Ethereum clients.
Some of the participating ETH 2.0 clients included Lighthouse, Teku, Nimbus, and Prysm. Along with it, ETH 1 clients like Besu, Geth, and Netherland also participated.
This was the first time when ETH 1 and ETH 2 clients communicated with each other. It was a classic example of the emulation of the merger removes Proof of Work miners and upgrades towards the Proof-of-Stake network. The optimistic timeline for the actual merger to happen is December 1.
Moving in the direction of having a ‘stakers only’ Ethereum network will be done by changing the Remote Procedure Call (RPC). This will help to keep the Ethereum network and its processes fully intact.