Ethereum price solid above $230 after Ethereum 2.0 news

Ethereum

The Ethereum price is still ranging inside a $30 zone with caps at $250.

However, considering the upbeat fundamental developments in the last 24 hours and more importantly, the revitalization of ETH bulls, odds are ETH prices will likely close above critical resistance zones.

Ethereum 2.0 multi-client testnet to launch in early August 2020
Fanning bulls are news that the Ethereum 2.0 multi-client testnet will launch in roughly two weeks or on August 4.Through Discord, the launch organizer, Danny Ryan, said:

“After discussions with client teams, the next multi-client testnet (mainnet config including min validator numbers) will have a min genesis time of Aug 4 (likely 1 or 2 pm UTC). We shall also be showcasing “Launchpad” on this net, the educational deposit interface aimed at hobbyists. I expect the deposit contract and config to be made public in the next couple of days.”

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This paves the way for the launch of the Beacon Chain mainnet, the foundation of a Proof-of-Stake system.

Danny Ryan said the release of the mainnet is subject to the absence of technical hitches, and its earliest launch date will be sometimes in early Nov 2020.

ETH 2.0 Security Anchors on ETH value

Diverging away from the mining to validation, the upgrade places ETH price at the center of the protocol’s security.

In this arrangement, other than miners funneling their computing power to secure the network, the value of circulating ETH determines its security.

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When I came up with Ethereum, my first first thought was, 'Okay, this thing is too good to be true.' As it turned out, the core Ethereum idea was good - fundamentally, completely sound