Ethereum (ETH) Rallies Back Above $3,000

The price of Ethereum (ETH) and other top coins has continued to accelerate over the course of the day, rising back above $3,000. At the time of writing, Ethereum (ETH) is now up nearly 6.4% over the last 24 hours at the current price of $3,031 per CoinGecko. The second-largest cryptocurrency moved back above $3,000, which it last touched on February 17. In fact, on March 15, more than 180,000 ETH were withdrawn from centralized exchanges, indicating a decline in the number of coins available for sale in the market. The cryptocurrency also rose 17% last week, the biggest gain in seven weeks, data indicates. That matches the wider cryptocurrency market cap increase seen over the last 24 hours, as it currently sits above $2 trillion in total. Anticipating Ethereum 2.0 Upgrade The price rally comes on the heels of Ethereum enthusiasts eagerly waiting for the Ethereum 2.0 update that is expected later this year, which brings the proof-of-stake (POS) system to the platform. The upgrade will shift Ethereum away from a proof-of-work (PoW) consensus mechanism to the more environmentally-friendly proof-of-stake (PoS). Last week, Ethereum developers successfully tested the long-awaited merge of the network’s proof-of-work and proof-of-stake chains, dubbed Eth 2.0, which will allow users to hold coins in a cryptocurrency wallet to support network operations in return for newly minted coins.The post Ethereum (ETH) Rallies Back Above $3,00...