The parabolic moves of assets are most desired by investors because the upward price of the asset in this case moves exponentially. Reportedly, investors are expecting to see a parabolic price move for Ethereum very soon. This expectation is brewing up due to the expected launch of ETH 2.
Vitalik Buterin tweeted: “The ETH2 deposit contract has reached more than half of its target (currently at ~278000 ETH deposited), with the bulk of the deposits taking place in the last three days!”
The ETH community feels that no power can stop it after the ETH2 materializes. There are several ETH fans who want to help reach the deposit contract, but many of them do not even have a clue about how to go about it. Some are willing, but do not have a clue as to how to go about it.
Some users have to state that they have invested their value in other DeFi platform thus generating more interest and that they might not choose to move it until the last minute.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Ethereum (ETH) is expected to reach a mind blowing position in terms of price. Waiting to see.”
Some of the miners asked is it possible to get old ETH mainnet and new ETH 2.0 at same time after ETH 2.0 touches the expected deposit amount and also if the miner can still mine ETH coin. In reply, it was stated that miners can continue mining the Eth 1.0 chain until Eth1 and Eth2 merge. This means mining will continue until phase 1.5 is deployed (~2021/22).
Encouraging amounts of deposits are already flowing in to the Ethereum 2.0 network upgrade deposit contract address. The coin supply of ETH on exchanges is increasing and this in turn is fuelling the price rally. Traders are completely optimistic about the Ether price.
Ethereum (ETH) Mining Difficulty
The number of active addresses on the network is used to determine Ethereum mining difficulty. The number of active addresses are increasing and the mining difficulty is also increasing. ETH mining difficulty is reportedly touching a 2 year high. To process Ethereum transactions, it is important to have mining blocks. Mining difficulty is increased to avoid disproportionate increase of blocks. There is a need to remove the mining difficulty bomb again. ETH is indeed a beast in the game.
While all these are happening non-techie investors are wondering if one should buy more ETH or sell ETH and buy something else?