Ethereum price surge has been impressive over the last couple of days with the cryptocurrency breaching the $250, $270 and now $300 levels in a matter of just few days.
Ethereum price has shown signs of optimism after a plunge in July. Over the last few days Ethereum price has been stable and only seen ups. For the entirety of the last week of July, Ethereum price showcased stability at $220 levels and in the first week showed a sort of mini bull-run that saw it rise from $220 to $260 before stabilizing at around $250.
Subsequent to that the cryptocurrency reached $270 levels and as of this writing Ethereum price is hovering at near-$310 levels – just a few dollars below Bitcoin Cash, which itself has managed to deter a lot of criticism and garnered enough footing itself by rising from a low of $130 to an impressive $330 in a matter of just a few days.
The bull run isn’t just limited to Ethereum, but has engulfed the cryptocurrency market as a whole. DASH, LTC, XRP and almost all altcoins have managed to register impressive increase in prices. The bullish market, which some say may not last long, is an indication of the renewed confidence in digital currencies and a possible signal towards a future when digital currencies will be mass accepted like fiat currencies.
Ethereum mining to get a boost
Reports have emerged that AMD is going to launch a new GPU named Radeon RX Vega 64 that will be capable of processing 70-100 million hashes per second (MH/s) that will provide miners with enough horse power to turn their mining operations profitable. Further, the currency bull run is likely to continue and if not the prices are likely to remain stable and this will be a huge incentive for new miners or miners with old gear to pick up a few of these new GPUs and start mining Ethereum.