Eth2 Launch Set for Mid-November 2020
The Beacon Chain deposit contract date, paving the way for the activation of Phase 0 of Eth2, is set for mid-November 2020. The date is subject to the audit result on the source code by NCC Group. Specifically, the audit firm will zero in on a critical Eth2 library called BLST, critical for creating keys and signing messages.
The Ethereum price is trending above $400, another round number, and a psychological support level. How prices fare is largely dependent on the outcome of Eth2 and whether its activation is this year. If the deposit contract date is indeed in Mid-November and the audit results come in positive, the ETH price may soar above $450 and even register new 2020 highs since a big part of Proof-of-Stake is the value of ETH tokens. The higher, the more secure the network.
Impact on the ETH Price:
Bullish. The Ethereum price is one of the top performers in the last week of trading. This announcement from developers working with the Ethereum Foundation is massive for bulls and could easily pump prices to new 2020 highs.
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