- ETH rose in value to above $2500, setting a new all-time high.
- The price rise comes following the Berlin hard fork update.
- The update will bring ETH closer to shifting to Ethereum 2.0.
Ethereum hit a new all-time high of $2549 early on April 16. The 2nd-most popular token has grown in value by over 30% since the start of the month.
This is also the first time ETH has broken the $2500 barrier. Not just this, but the Ethereum market cap has increased drastically over the last week, settling at around $280 billion at the time of writing. Ethereum has been setting new ATHs throughout this week, making predictions of its reaching $10,000 by end of this year seem much more realistic.
The latest rise comes in the wake of the Berlin hard fork going live on the Ethereum blockchain. In fact, its growth has beaten that of Bitcoin, particularly this week, as the much-awaited update went live. The hard fork will bring users much closer to Ethereum 2.0.
The update includes four Ethereum Improvement Proposals EIPs. Moreover, it sets up the network for the much bigger London hard fork planned for July. However, the update caused many Open Ethereum clients to face consensus issues. Notably, the blockchain soon managed to fix the issues.
The rise in ETH value could also have been driven by the news of Rothschild Investment buying a $4.75M initial stake in the Grayscale Ethereum Trust.