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Prices of the second-largest cryptocurrency by capitalization have exceeded the $2000 mark. Ethereum last traded near this mark at the end of May 2022. Hourly chart of ETH/USDT
Prices of the second-largest cryptocurrency by capitalization have exceeded the $2000 mark. Ethereum last traded near this mark at the end of May 2022.
According to CoinGecko, the price of the asset has increased by almost 7% in the past day and 17% over the course of the week.
On August 11, the Ethereum team successfully completed the transition of the Goerli testnet to the Proof of Stake (PoS) consensus algorithm. On the same day, the developers moved the activation of The Merge update to approximately September 15-16.
After the positive news, Ethereum price climbed above $1,900.
Ethereum’s capitalization has exceeded $242 billion. Bitcoin is trading at $24,800.
Recall that supporters of the Ethereum fork in the Proof of Work (PoW) consensus algorithm describe it as inevitable. They plan to cancel EIP-1559 upon burning some of the transaction fees.
CoinShares experts were skeptical about the prospects for a potential Ethereum PoW fork. Vitalik Buterin, co-founder of the second largest cryptocurrency by capitalization, said that stablecoin issuers will determine the future of such projects.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
