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All Eyes on Ethereum (ETH) As It Hits $590

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Mon, 11/23/2020 - 10:09
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Yuri Molchan
The second biggest cryptocurrency has just reached another high $590 - on its way to recovering the 2018 ATH of $1,300
All Eyes on Ethereum (ETH) As It Hits $590
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Ethereum has just soared to a new major high of $590 for the first time in two years, adding almost $100 to the exchange rate in three days and showing three massive green candles.

ETH
Image via CoinMarketCap

Earlier today, it was reported that Ethereum had reached a major milestone regarding the expected launch of the ETH 2.0 upgrade.

The amount of ETH deposited by validators now totals 50 percent of the amount necessary to launch the update on Dec. 1 as was announced by Ethereum developers previously.

The overall amount of ETH locked in the contract is now 292,480, or more than $170 mln at press time. Back on Saturday, it was only 30 percent.

The minimum amount of ETH to be deposited by a validator is 32 ETH.

Related
Ethereum 2.0 Just Reached Significant Milestone

Meanwhile, the inflow of new ETH holders is rising. As per Glassnode, the amount of wallets holding 100+ ETH has surged to a new ATH, along with the number of wallets with 32+ ETH.

At press time, ETH is trading at $591, as per CoinMarketCap.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.