By Hassan Mehmood (Saudi Arabia)
As the world-leading digital asset is moving up even above $9,500 after remaining in the area between $9,000 and $9,300. The second-largest cryptocurrency by market volume Ethereum has also started its movement in an upward direction following Bitcoin.
Surpassed 50-day and 200-day MA
The interesting thing is that price value also surpasses the 50-day moving average. 50-day MA also crossed a 200-day moving average as analysts have witnessed the golden cross.
In today’s rally, Ethereum surpasses the level of $270 after breaking the resistance level. Over the past few weeks, Eth coin is also hovering between $220 and $250. It is trending in the top 5 in terms of the largest daily run in the past 24-hours.
Currently, Ethereum is trading $263.87. It is up nearly 140% since mid-March.
Phase 0 Public Testnet
Ethereum public testnet is finally going to launch at the end of 2020. The new update will play its part in the adoption of Ethereum on a large scale. Anthony Sassano, the Ethhub co-founder, said:
Also read:“The “official” eth2 phase 0 public testnet (codenamed ‘Medalla’) will go live on August 4th. If all goes well, this will be the final testnet before mainnet launch. It’s finally happening!!”
Project coordinator Afri Schoedon commented over the launch and said there are also other testnets:
“The Schlesi testnet was one of many steps in that direction. The Witti testnet was another. The Altona testnet is yet another. The Medalla testnet aims to be the final one prior to mainnet launch.”
Recently, crypto data firm Santiment found out that whales were busy in accumulating Ethereum. Santiment noticed exchange inflows:
“Nearly 700K $ETH were moved by top 100 whales in the past 3 days. Over this time, the combined balance of the top 100 non-exchange ETH addresses shrank by almost 700K ETH, or about ~$182.7M. This was likely pre-pump positioning & a forewarning of the pump.”
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