The first cryptocurrency rate continues to grow. Meanwhile, altcoins are also growing – for example, the price of ETH exceeded $500 for the first time since mid-2018, and the hash rate of the Ethereum network reached a historic record.
Currently, the second-largest cryptocurrency is trading at $518 per coin. In addition, the hashrate of the Ethereum network has reached a new record – 257 TH/s. This means that more and more miners are switching to mining ETH.
However, ETH miners will soon have to switch to mining other cryptocurrencies – the Beacon Chain is scheduled to launch on December 1. This is the first stage in Ethereum’s transition to the Proof-of-Stake algorithm. However, a full-fledged transition to Ethereum 2.0 will take place no earlier than 2022. Now, the equipment for ETH mining pays off in just 3 months.
We remind you that to start staking on the Ethereum network, ETH holders must transfer 524,288 coins to the deposit contract by December 1. However, at the moment only 151,000 ETH are blocked on the address. Earlier, investment company IBC Group announced that it would invest $10 million in ETH in an Ethereum 2.0 staking deposit contract.
