Ethereum Rises Over Fifty Percent This Month, Blockchain Marks Fifth Anniversary

Ethereum is going through a phase of positive news for around its fifth anniversary. Even its futures market is undergoing a record boost in the month of July.

Ether, the native token of Ethereum blockchain, is trading above three hundred and forty USD on Coinbase as the platform keeps on gaining attention as the leading smart contract platform. Notably, Ethereum is observing its 5th anniversary this month and this has accorded with a juncture at which the price of the cryptocurrency increased by over fifty percent within a month.

At the inception of July, the virtual asset traded at approximately two hundred and twenty-five USD and is closing the month of July at around three hundred and forty-four USD, as per the data from Coinmarketcap.

As per several crypto analysts, the main reason behind the success of Ethereum is the escalation in demand of decentralized finance and the forthcoming debut of Ethereum 2.0. This has supposedly transformed to the increased demand for its native token.

Overall, it’s a period of all-round positive developments for Ethereum around its anniversary. At the time of reporting, the coin is trading at around 344 USD with a 24-hour gain of around eight percent.