Ether, the cryptocurrency of the Ethereum network, has been on the rise since this weekend. In fact, the currency achieved the largest daily profit in more than 20 days. Now Ether can hitch a ride on the growth of the bitcoin rate, but there is more going on, according to the experts.

20 percent increase

Ether performs exceptionally well and that is largely due to yesterday’s closing of the day. The price rose by 20 percent compared to 24 hours earlier. That is the highest profit since 13 March.

At the moment the currency is about 12 percent in the plus. At the time of writing ether is worth 160 euros, which is about 175 American dollars.

Halving VS ETH 2.0

Ether has risen faster than bitcoin in recent days and that is also due to what is planned. Bitcoin of course has the block halving, the biggest event for the entire crypto market. But Ethereum is waiting for an upgrade to ETH 2.0. This is the version of Ethereum that Vitalik Buterin initially had in mind, the so-called World Computer. The update is scheduled for July 2020.

The 2.0 upgrade, commonly called Serenity, promises a higher transaction speed and a new security and consensus model. Ethereum will then officially switch to proof-of-stake (PoS).