According to CoinGecko, in the past day, the price of the second largest cryptocurrency by capitalization has increased by 12.8%.

Ethereum price reached a local maximum at $118. At the time of writing, the asset is trading in the $1,895 area.

In the last seven days, the ether price has increased by 17% in 30 days – 72.8% (according to CoinGecko).

The growth of the cryptocurrency takes place against the background of the Goerli testnet’s transition to the Proof-of-Stake algorithm.

Merge activation on the Ethereum mainnet is expected in September.

Bitcoin also showed steady growth – 7.4% in the past day. The asset is trading around $24,540.

Analysts at Arcane Research noted that the increasing string of local lows in the price of digital gold continues.

According to them, the target after $24,000 will be a target in the $27,000-28,000 range.

Its total market cap at the time of writing is $1.21 trillion. The Bitcoin dominance index is 38.6%, while the corresponding Ethereum indicator is 18.8%.

Recall that in July, Ethereum grew by 56%, while Bitcoin increased by almost 17%.

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