Cryptocurrency community are encouraged by the strings of recent positive headlines showing a great interest in the crypto space from mainstream firms such as Fidelity Investments, E*Trade Financial Corp, AT&T, Samsung and BitPay.
Institutional customers will be able to buy and sell digital assets, A Bloomberg report published on May 6, 2019, states Fidelity will roll out its trading services within “a few weeks” and will target institutional customers, a move likely to support the current Cryptocurrency bull run.
AT&T will also allow its customers to use digital assets to make online payments through BitPay as its payment processor. According to Business Korea, a mainstream business media outlet in South Korea, Samsung will soon integrate digital assets into Samsung Pay that accounts for 80% of simple payment market.
Ethereum Price Analysis
Ethereum is currently showing a lot of strength and has doubled in Value since March 2019. At the time of Publication, Ethereum is currently trading slightly above $268.
Ethereum was able to break above the descending trend line and might reach the $300 price range, however, Ethereum price was previously rejected at $280 and this will be a resistance that will require a few test-nets before breaking through to $300.
Ethereum has been gaining momentum against the US Dollar. ETH is trading above the $265 resistance and has broken the 4 hours resistance pendant and is likely to continue higher to $300.
In the last few days, Ethereum has had a stable rise against the US Dollar and has managed to break two resistance including $245 and $250. Bitcoin price started a strong uptrend that pushed Ethereum above $250 to $265 resistance, It opened doors for more gains as Ethereum traded above $270 forming a new weekly all-time high at $272 on May 16, 2019.
Ethereum 2.0 TestNet
A major upcoming upgrade to the Ethereum blockchain network is being worked on and will improve Ethereum scalability and usability, The code base is half complete according to Fredik Harryson, chief technology officer for client developer Parity.
Currently, Ethereum 2.0 code base is being finalized, and developers are conducting tests and research on the planned upgrades.
On April 23, 2019, a new code for Ethereum 2.0 was released, to facilitated basic communication between blockchain network nodes that run on the Ethereum 2.0 software. Referred to as Hobbits, the communication protocol was developed through a collaborative effort with ConsenSys, Whiteblock, and Ethereum 2.0 implementer groups Yeeth and Chainsafe.
At the moment of writing the article, ETH is priced at $260 on CoinMarketCap