Over the year, the main altcoin has risen in price by 600% and brought its holders twice as much profit as bitcoin. This could be the beginning of a long-term growth phase. Over the past 12 months, Ethereum has risen in price by more than 600% and is now worth $ 1.2K, according to tradingview.com. By comparison, Bitcoin gained just over 300% of its value over the same period.
The key event for Ethereum was the launch of phase 0 of the second network, which was expected for over a year. In December, altcoin developers launched the Ethereum 2.0 deposit contract. Investors can transfer their coins to it and passively increase their number of staking credits, the annual yield is 10% per annum excluding costs. However, users will not be able to withdraw their ETH until the update reaches phase 1.5, the exact timing of which is not known.
The Ethereum price rate could skyrocket to $ 3,000, managing partner of Moonrook Capital. In his Twitter account, he wrote that the altcoin will show a two-fold growth in two weeks, as soon as it renews its all-time high of $ 1.4 thousand.
Is it time to start buying Ethereum?
The main altcoin rate entered a phase of active growth in March this year. Then Ethereum fell below $ 90 during the panic in the global markets. Since then, the coin has risen in price by more than 1000%. On January 10, ETH set a local maximum of $ 1.35 thousand. Then there was a correction, the asset quotes fell to $ 0.91 thousand. During the next phase of growth, the altcoin rate could reach $ 5 t0 10 thousand according to analyst.