Etheruem (ETH) continues to rise, with a consistent 5% gain each day. At press time, Ethereum (ETH) has a market capitalization of about $ 340 billion and registered a new ATH at $ 2,946. The world’s second largest cryptocurrency wants to cross the key milestone of $ 3,000 for the first time in its history.
In the past week, the ETH price has surged nearly 35% to reach today’s new milestone. This latest ETH price rally came with the number of active ETH addresses continuing to show a historic increase.
On the other hand, the developers successfully completed the launch of the Ethereum 2.0 Testnet Steklo. This was the first full Proof of Stake (PoS) communication between different Ethereum customers. Some of the ETH 2.0 customers participating included Lighthouse, Teku, Nimbus, and Prysm. However, ETH.1 customers such as Besu, Geth, and Netherland also joined.
Ethereum 2.0 developer Diederik Loerakker said in a statement on the subject that the test network is not very stable at the moment and that it is actually a tool for developers rather than a test network.
This process went down in history as the first time ETH 1 and ETH 2 clients communicated with each other. Update means Ethereum is moving from the tried and tested PoW protocol to the PoS protocol. The 2.0 blockchain has been underway for almost six years. Upgrades to the Proof-of-Stake network that removed Proof of Work miners were a classic example of merger imitation. The optimistic timeline for the real merger to take place is set as December 1.