Ethereum Prices Set to Surge as Beacon Chain Genesis Nears

Since the beginning of this year, Ethereum prices have gained 170% from below $140 on New Year’s Day to current levels of around $380. There is no doubt that the primary driver of demand has been the DeFi sector which has surged itself by 200% in terms of Ethereum locked up.

That demand for yield farming has driven ETH prices this year as they outperform Bitcoin which has only made around 62% over the same period. A bigger move could be on the cards for Ethereum before this year is out as lead developers have hinted at a Beacon Chain genesis in around six weeks’ time.

Timeline of Bitcoin, Ethereum