ETH rate exceeded $500 for the first time since July 2018 of the year

The first cryptocurrency rate continues to grow. Against this background, altcoins are also growing - so, The price of ETH exceeded $500 for the first time since July 2018 of the year, and the hashrate of the Ethereum network has reached a historic record.

Currently, the second largest cryptocurrency is traded at $517 for a coin. Besides Togo, Ethereum network hashrate has reached a new historical record - 256 Ths. It means, that more and more miners switch to eth production.

However, soon the ETH miners will have to switch to the extraction of other cryptocurrencies - 1 Beacon Chain is scheduled to launch on December. This is the first stage of Ethereum's transition to the Proof-of-Stake algorithm.. However, Full transition to Ethereum 2.0 will happen not earlier 2022 of the year. Currently, ETH mining equipment pays off in just 3 months.

Recall, what is needed to start staking on the Ethereum network, so that the owners of ETH translate 524 288 coins for a deposit contract up to 1 December. However, at the moment, only 151 000 ETH. Earlier, the investment company IBC Group announced, what will be invested on $10 Milln in a deposit contract for steying Ethereum 2.0.