The second-largest cryptocurrency by market capitalization surpassed the $2,000 level. The last time Ethereum traded at this level was in late May 2022.
According to CoinGecko, in the last 24 hours the asset rose by almost 7%, and over the past week by 17%.
On August 11, the Ethereum successfully completed the Goerli testnet’s transition to the Proof-of-Stake (PoS) consensus algorithm. On the same day developers postponed the activation of The Merge update to around September 15-16.
Against the backdrop of positive news, Ethereum price surged above $1,900.
Ethereum’s market capitalization surpassed $242 billion. Bitcoin trades around $24,800.
Supporters of a PoW Ethereum fork have called it inevitable. They intend to roll back EIP-1559 which burns part of transaction fees.
CoinShares experts skeptical about the prospects of a potential PoW fork of Ethereum. Ethereum’s co-founder Vitalik Buterin said that the future of such projects will be determined by stablecoin issuers.
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