The price of Ethereum’s token, Ether reached a new historical maximum price, exceeding $1,500. This rally was influenced by the news about the collaboration of ConsenSys and Securosys to improve the security of staking in Ethereum 2.0.
February 3, 2021 | AtoZ Markets – On February 2, the price of Ether (ETH), the native token of the Ethereum network, renewed its historical maximum, breaking the $1500 mark. However, ETH could not stay above this level for long as it dropped to $1,464. However, at the time of writing, the ETHUSD pair was trading at $1,534.
Amid a surge in the cost of ether, the market capitalization of this cryptocurrency is approaching $170 billion.
The previous all-time high for ETH was set on January 19, when the coin reached $1,440 due to information on the upcoming Berlin hard fork aimed at improving the current Ethereum network. At the beginning of January, air cost $730, in just a month it managed to double.
Ethereum price rally influenced by ConsenSys and Securosys collaboration
This time, the rise in the price of ETH was influenced by the news about the cooperation of the company ConsenSys, which is working on the development of the Ethereum ecosystem, and Securosys, which specializes in cybersecurity. They started working on a secure Ethereum 2.0 staking method to generate keys for withdrawing cryptoassets in Securosys hardware security modules using the Codefi Staking API.
With Codefi Staking, users can move ETH to the Beacon Chain, the Ethereum 2.0 signal chain. User keys will not be managed by Codefi or Securosys – stakers will be able to own the keys and control them themselves. To validate transactions in Ethereum 2.0, network participants will need to start staking and create these keys.
“Through the interaction of Codefi with Securosys hardware security modules, we will provide our customers with the highest level of security when migrating from Ethereum 1.0 to Ethereum 2.0,” said Kuhan Tharmananthar, Product Development Director of Codefi Staking.
According to the Dune Analytics platform, 2,877,986 ETH worth more than $ 3.7 billion has already been blocked on the Ethereum 2.0 deposit contract.
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