Monday, November 23, 2020
No menu items!
  • News
  • Blockchain
  • Cryptocurrency
  • Contact Us
More

    Ethereum 2.0 Final Testnet Expected To Launch in a Matter of Hours As ETH Targets $400

    Must Read

    Ripple Has Officially Added Bank of America (BoA) to the List of Top RippleNet Members on Its Website

    Ripple, the San Francisco based blockchain firm, has now officially included Bank of America (BoA) on the list of...

    Crypto Strategist Scott Melker displays His Bullishness on ADA, ETH, LTC, XRP and Three Others

    A cryptocurrency analyst, Scott Melker, popularly known in the crypto industry as Wolf Of All Streets, has revealed he’s...

    Analyst Says Ethereum (ETH) Could Target $850 Once It Surmounts This Key Resistance

    Virtually all the cryptocurrencies in the market have been enjoying the current price rally that was started by Bitcoin...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    The positive price trend experienced by virtually all the top cryptocurrencies in the market was arguably led by the second-largest cryptocurrency by market capitalization, Ethereum (ETH).

    In less than 2 weeks, the digital token ETH saw about 70% price surge, which led to attaining its 2-year high of $410, after a long stay at $200 price region.

    As the launch of Ethereum 2.0 Medalla testnet approaches, crypto pundits have been speculating about a possibility for ETH to reclaim the lost $400 support and to record new yearly highs.

    Ethereum (ETH) Regaining Important Supports

    The intraday high experienced by ETH some hours ago remarkably placed the price of the digital token at its highest since August 2018.

    The positive trend led by Ethereum (ETH) managed to raise the total cryptocurrency market capitalization to $360 billion, its highest peak in the last 1 year. Howbeit, the massive liquidation of leveraged positions did not allow the figure to hold. At press time, the total crypto market capitalization now stands at $340 billion.

    Due to the significant downtrend, the price of the digital token ETH retracted to the 200-hour MA before printing a much-needed price recovery. At the time of filing this report, ETH is trading at $386.36, with a 6.17% price uptrend in the last 24 hours.

    Ethereum 2.0 Medalla Testnet to Launch in a Matter of Hours

    Ethereum 2.0 Medalla testnet, which is said to be the final public testnet for Phase 0, Beacon Chain, is expected to launch in a matter of hours.

    Going by the account of Ethereum protocol developer, Terence Tsao, the genesis state has been realized with over 20,000 validators. He specified that the testnet will go live on 4th August 2020, at 13:00 UTC.

    Tsao tweeted, “We have a genesis state for Medalla Eth2 testnet! Total 20084 validators. Genesis time is Tuesday 1300 UTC.”

    ETH Price Started Gaining Momentum after the Announcement of Medalla Testnet’s Launch Date

    Sometimes in mid-July 2020, the launch date of Medalla testnet was announced and reported by Herald Sheets. A few days after this exciting announcement, the price of ETH in the market started gaining momentum for new highs. As the launch approaches, some analysts are of the opinion that ETH would maintain the surging trend to reclaim its recently lost support.

    Also, Ben Edgington, an Ethereum researcher released an update regarding the process of Beacon Chain genesis. The fact that 20084 validators have staked at least 32 ETH within the time parameter indicates that the network is set for the launch of final testnet before the release of Ethereum 2.0 phase 0.

    “The Medalla testnet is due to go live on August the 4th, and it is probably our one and only dress rehearsal before the real thing later this year,” Ben Edgington noted.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Ripple Has Officially Added Bank of America (BoA) to the List of Top RippleNet Members on Its Website

    Ripple, the San Francisco based blockchain firm, has now officially included Bank of America (BoA) on the list of...

    Crypto Strategist Scott Melker displays His Bullishness on ADA, ETH, LTC, XRP and Three Others

    A cryptocurrency analyst, Scott Melker, popularly known in the crypto industry as Wolf Of All Streets, has revealed he’s bullish on seven altcoins, including...

    Analyst Says Ethereum (ETH) Could Target $850 Once It Surmounts This Key Resistance

    Virtually all the cryptocurrencies in the market have been enjoying the current price rally that was started by Bitcoin (BTC), the largest cryptocurrency by...

    Ripple Moves to Bring XRP Ledger to the World of Central Bank Digital Currencies (CBDCs)

    Considering the latest job listing, Ripple, the San Francisco based cross-border payment firm, is moving to bring XRP Ledger to the world of Central...

    Some Analysts Predict $2.00 for XRP, but Crypto Michael Has A Little Different Opinion

    XRP, the third-largest cryptocurrency by market capitalization, has been experiencing a positive price trend over the past week, which gives its faithful traders and...

    More Articles Like This