On Monday, August 8, the price of the second-largest cryptocurrency rose above $1,800. In the last 24 hours the asset gained 5.9%, according to CoinGecko.
As of writing, Ethereum is around $1,803. As shown in the chart below, the price rise is accompanied by a surge in trading volume.
Bitcoin price topped $24,000. As of writing the top cryptocurrency trades near $24,170, up 4.5% over the last 24 hours.
According to Goinglass, liquidations on the futures market over the last 24 hours totaled $167 million. Of this, $40 million were on Bitcoin, $79.6 million on Ethereum.
Beyond the leaders, crypto assets in the top-10 by market cap are rallying.
In late July, Ethereum announced the transition of the Goerli testnet to the consensus algorithm Proof-of-Stake (PoS). According to them, this will occur between 6 and 12 August — when the network’s cumulative difficulty reaches 10,790,000.