The price of Ethereum (ETH) is currently in the midst of a massive rally with the price climbing 50% in just 6 days time.
In addition to the price increase against the US Dollar, Ethereum (ETH) is also massively outperforming Bitcoin (BTC). The ETH price is up 25% over the same time period against BTC as displayed in the ETH/BTC chart below.
The move from Ethereum against Bitcoin marks a break from its recent trading range which found the 2 leading cryptocurrencies trading in a very narrow range from each other. Experts are citing several potential factors for Ethereum’s recent price hike including the upcoming Ethereum 2.0 upgrade.
Ethereum 2.0 confirmed for September 2022
Ethereum has released a schedule for the highly anticipated Ethereum 2.0 upgrade. The upgrade or Ethereum merge is set to take place on September 19th. The timeline is currently being called a ‘soft schedule’ and not yet final. Ethereum developer Superphiz recently tweeted that the current schedule for the merge to Ethereum 2.0.
The Ethereum merge schedule brings excitement and hope to the crypto space that maybe the bear market days are numbered. This schedule is a planning timeline and not official, be on the lookout for official merge timeline announcements from Ethereum.
In addition to the merge schedule, Ethereum recently went live with the Ninth Shadow Fork. This fork was designed to test the recent updates on the network and bring the network yet another step closer to the merge and the full conversion to a PoS (Proof of Stake) network.