Ethereum At $500 For The First Time Since July 2018: Report

Ethereum at $500 level for the first time since 2018 as the price rallied recently amid the rising search interest on Google as well so let’s read more in today’s Ethereum news.

After failing to tap the $500 price mark two days ago, ETH woke up and started climbing up. The cryptocurrency rallied vertically and crashed the $500 resistance against the US dollar after more than 2 years of trading. The price increase came with the rising trends of ETH searchers on Google. It now seems that ETH bulls are no longer in the mood to remain in the lower $500 zone as a bout of price action led the cryptocurrency top of the $500 mark a few minutes ago. This increase marks a 6% for Ethereum’s native token and almost increased by a 200 percent gain year to date.

Ethereum at $500 is hereafter more than two years since the last time the asset changed hands here was in July 2018. Most of the community celebrated and the Ethereum advocate Anthony Sassano commented that the rally is only 5% of the way to $10,000. Crypto Capital Venture founder Dan called for another rally to $530 if ETH’s price action keeps on playing out similar to BTC. While ETH is now busy lifting off vertically on the price charts with Google trends showing that the search interest in Ethereum is now rising slowly.

This came after the term “buy ETH” experienced an increase in search interest last week because it of the hype around Ethereum 2.0’s launch as the potential buyers are entering the markets with registers on the back of the new network upgrade launch. As per the latest update from Ethereum co-founder Vitalik Buterin ETH 2.0 could experience further delays in the launch. When asked about a complete timeline for sharding and migration, Buterin explained that scaling could be ready before staking as he said:

 “For the merge, I would say less than a year is not realistic. Even if a complete merge implementation fell out of the sky in February, I would recommend we sit on our butts until November or so to convince people that PoS is safe.”

In a recent AMA on Reddit’s official ETH subreddit, Vitalik said that in the next two years the network will churn about 4.7 million coins. He said he was happy about the completion of the coding for the 2.0 phase 0 launch as it has totally de-risked the transition to ETH 2.0.