ETH token is already worth $ 263. Where to go

ETH token is already worth $ 263. Where to go
CONTENT

  • The ETH price went up sharply to the level of $ 280

  • Experts associate the increase in the cost of ETH with the launch of an updated version of the network

  • Ethereum 2.0 launch carries certain risks

ETH token is already worth $ 263. Where to go

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After the news of the launch of the final test version of the Ethereum 2.0 network, the price of the ETH token skyrocketed. The coin is already trading at $ 263, and experts are sure that this is not the limit.

Ethereum targets $ 280

 

In the near future, the value of the ETH token may strengthen at around $ 280 – $ 285 apiece. Analysts adhere to this opinion. Over the last 5-6 days, Ethereum has formed a strong uptrend above the $ 220 level. The ETH price started to move upward and broke several barriers near the $ 250 level. On average, Ether has grown by 8% in the last three sessions and even surpassed the level of $ 260. 

ETH token is already worth $ 263. Where to go

Major support is now forming around the $ 250 level (recent breakout area). More importantly, a significant bullish trend line is forming on the daily ETH / USD chart with support around $ 244. This means that in the next few days, token, as the use of cryptocurrencies increases, new types of tokens appear. They can represent value or something intangible like voices. Two … More could hit $ 280 apiece, the highest coin price in two years.

Bulls Activate Ahead Of Ethereum 2.0 Launch

 

It is likely that the rise in the value of the token is related to the company’s recent announcement of the early launch of an updated version of Ethereum 2.0, which is scheduled for August 4th. This means that in August the network will switch to the Proof-of-Stake protocol, which will allow participants to join the staking program and profit from keeping the tokens in the wallet..

ETH token is already worth $ 263. Where to go

In order to participate in the staking program, holders must freeze at least 32 ETH in their wallets. The news of this became a trigger for active purchases of ether. As BeInCrypto previously reported, 66% of surveyed Ethereum token holders intend to use them for staking.

However, experts never tire of reminding that the ETH staking program carries certain risks. For example, the betting program inside the Ethereum system has not been fully thought out, and the algorithm for “freezing” funds on the validators’ wallets actually limits the access of holders to their own assets. This could lead to security problems, reports Cointelegraph. According to experts, the betting system is difficult for users to understand, which means that it will cause many problems in the future..

 

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