Ethereum price tops $400 for the first time in two years

In the early hours of August 14, the price of the second-largest cryptocurrency by market cap breached the $400 mark and held above it. At one point, Ethereum traded above $430 (Bitstamp).

Source: TradeView

As of writing, ETH was trading around $420. At such levels, the coin’s price last traded at similar levels in August 2018.

The cryptocurrency breached the $300 mark at the end of July. During this period analysts noted that Ethereum trading volumes on spot and futures markets were growing faster than Bitcoin’s. This signal pointed to a possible continuation of ETH price growth.

Against this backdrop, the average fee size on the network surpassed the levels seen in the summer of 2018. In August, the metric continued to rise, reaching an all-time high.

On August 4, went live the final testnet for Ethereum 2.0 named Medalla. In the first 24 hours, more than 20,000 validators joined it.

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