The Ethereum rate on the Bitstamp crypto exchange reached $1,440 for the first time in history, according to TradingView data. Thus, the altcoin surpassed the January 2018 high of $1,428.

Over the past 24 hours, the cryptocurrency has jumped by 17%, since the beginning of the year – by almost 100%. In mid-March 2020, asset quotes fell to a local minimum of $86. Since then they have increased by 1574%.

The agency identifies three main reasons for the growth of the asset: the rally of Bitcoin, which almost reached $42 thousand on January 8, the addition of Ethereum futures by the Chicago Mercantile Exchange and the launch of the zero phase of Ethereum 2.0 in December 2020.

The update will replace the mining function with staking. This means that ETH holders will be able to passively increase the number of their coins, the publication explains.

Managing partner of the Moonrool Capital fund, Simon Dedic, expects the price of Ethereum to double its maximum update and reach $3 thousand.