Investors cash in, as Ethereum gains 362% since March

Ethereum (ETH), the world’s second most valuable cryptocurrency, has more than tripled in value over the past four months. This indicates that investors are increasingly raising their stakes in the fast growing cryptoasset.

At 5:00 a.m. GMT, Ethereum was trading around $ 405, a gain of 361.6% from March 12, 2020, when it traded at $ 112. Its market capitalization currently stands at $ 45.3 billion.

Ethereum is the second most valuable cryptocurrency as it now has a market cap of $ 43.23 billion.

What could be the reason for the rise of Ethereum?

Kelvin Koh, co-founder of venture capitalist Spartan Black, provided insight into what could be responsible for such a surge in the ETH market. He said:

The strong evolution of Ethereum is linked to the upcoming launch of ETH 2.0, which is a major catalyst. Each phase of ETH 2.0 over the next 2-3 years brings ETH closer to its end state and will be catalysts for Ethereum.

The strong evolution of Ethereum is linked to the upcoming launch of ETH 2.0, which is a major catalyst.

Each phase of ETH 2.0 over the next 2-3 years brings Ethereum closer to its end state and will be catalysts for $ ETH.

– SpartanBlack (@ SpartanBlack_1) Aug 1, 2020

What you need to know about Ethereum: ETH is a cryptocurrency designed for decentralized applications and the deployment of smart contracts, which are created and operated without any fraud, disruption, control or interference from a third party.

Ethereum is a decentralized system, completely independent and does not come under any authority. It has no pivot point and its platform is connected to thousands of its users through their computer systems across the world, which means it is almost impossible for ETH to go offline.

Meanwhile, ETH miners have a field day, recording the highest levels of income (in USD) since Q3 2018. The% of income that currently comes from fees is in a league of its own. The average is between April 2018 and April 2019 and was 3%.

In July, 22.2% of Ethereum miners’ income came from transaction fees. This is the highest monthly value in ETH history and is a continuation of the strong uptrend of the past three months.

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