Technical chartists extended their Ethereum price target beyond $400 as the blockchain inched towards a major protocol upgrade.
The ETH/USD exchange rate surged to its multiweek high near $378 last week amid a broader crypto market rebound. The new capital came following hopes of the second US stimulus package, a deal that remains stuck on Capitol Hill for months – and whose execution raises the bullish prospects of the cryptocurrency industry, as seen through the first stimulus aid between March and July earlier this year.
Nonetheless, Ethereum grew substantially higher than the rest of the top crypto brass, including Bitcoin. ETH/USD rallied exponentially because of Ethereum’s increasing utility in the emerging decentralized finance and stablecoin space.
Ethereum 2.0
The project’s plans to upgrade from proof-of-work to proof-of-stake protocol kept its bullish bias intact for the long-term.
The developers of “Ethereum 2.0” launched a new bug bounty program on Friday last week, with its project lead Danny Ryan tweeting:
Announcing the eth2 bounty program!https://t.co/S6SHqN4D2q
The spec and attacknet programs are now deprecated in favor of this general program for all of eth2
Happy 🐛 hunting!
(Note! This is a sister program to https://t.co/8Zy1qo3S1i program and will be run in parallel)
— dannyryan (@dannyryan) October 9, 2020
In a separate post, the team announced:
“The Eth2 Bounty Program provides bounties for Eth2 (a major upgrade to Ethereum’s core consensus) bugs. We call on our community and all bug