Today, I have noticed the highest(2020 high) price for ETH i.e. $315 ! Surprised to see that ETH price suddenly jumped over $300 from $238 within a few days. This is the first time for me to think like, k ETH is inspiring BTC price to get raised in the cryptocurrency markets 😜? Have a look at this, the ETH price has surged over 9% in the last 24 hours and after mid-March price crash, the ETH price has surged by more than 25%. I'd like to list some reasons for this ETH price raise.
You may have also noticed the massive and sudden surge in the DeFi activity on the Ethereum network and it was a key to push its price higher. I would like to thank this sudden DeFi craze which inspired the bullish sentiment.
Another reason can be, the core developers plan to launch the Ethereum testnet on August 4.
According to some news report, Ethereum developers have accelerated their development of Ethereum 2.0 which will be able to process 1000 transactions per second.
Some major ponzi schemes are also causing this sudden surge in ETH price.
So if you are ETH holder, what you have planned to do?