The price of Ethereum was plunging against Bitcoin until it found a bottom at the 0.016BTC level. When compared to the value of BTC, the price of Ethereum has increased by 0.023 BTC. The significant increase depicts that Ethereum is uplifting the digital currency market.
The massive upsurge in the price of Ethereum might be as a result of the Devcon’s annual gathering that is taking place in Osaka, Japan. About 3000 people from the Ethereum community have joined the event with the aim of encountering Ethereum developers that have been working on the Proof of Stake upgrade.
More Focus in the Crypto Space Is Being Directed to Ethereum
The Ethereum 2.0 Deposit Contract is almost already. As such, many people from the Ethereum community would be focusing their attention on Ethereum, either towards earning on locked Ethereum or becoming a staker. This would also help to boost the Ethereum community and increase its number.
Recently, UNICEF announced that it could now receive payments or donations in the form of cryptocurrencies, Bitcoin (BTC) and Ethereum, through the UNICEF Cryptocurrency Fund. The organization would use the fund to support open source technology that would be of benefit to younger people.
In Great Britain, Brexit deals appear unbearable while the pound is plunging against the US dollar. These are some of the factors for the massive rise of the crypto market. The significant upsurge has pushed most of the coins in the market into the green zone, except USDT that is still in the red. Bitcoin (BTC) price just broke over the $8,500 mark.