{"id":64718,"date":"2022-07-21T16:59:59","date_gmt":"2022-07-21T13:59:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64718"},"modified":"2025-09-06T15:57:19","modified_gmt":"2025-09-06T12:57:19","slug":"cumberland-explains-reasons-for-ethereum-price-rally","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/cumberland-explains-reasons-for-ethereum-price-rally\/","title":{"rendered":"Cumberland Explains Reasons for Ethereum Price Rally"},"content":{"rendered":"<p>Experts at the over-the-counter cryptocurrency trading platform Cumberland said that Ethereum&#8217;s rally in July 2022 was driven by fundamental factors, and noted growing client interest in the asset.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">While the price action of the recent past has been technical and highly macro-correlated, this move has been crypto-fundamental: the Sepolia testnet successfully merged to proof-of-stake on July 6th, setting the stage for an early-autumn mainnet merge.<\/p>\n<p>\u2014 Cumberland (@CumberlandSays) <a href=\"https:\/\/twitter.com\/CumberlandSays\/status\/1550051903769399297?ref_src=twsrc%5Etfw\">July 21, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;While price movements in the recent past were technical and largely macro-correlated, the latest rally was crypto-fundamental: on July 6 the Sepolia testnet was successfully migrated to Proof-of-Stake, laying the groundwork for mainnet migration in early autumn,&#8221; the analysts wrote.<\/p>\n<\/blockquote>\n<p>In Cumberland, they stressed that the emergence of a high-capitalisation asset that is yielding and deflationary is &#8220;extremely important&#8221; for users and investors. The company also noted that Ethereum&#8217;s transition to PoS will reduce the blockchain&#8217;s negative environmental impact.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We are observing a flow of portfolio reallocations into ETH through our APIs and the OTC desk: the buy-to-sell ratio over the past week has shifted significantly, and buyers were institutional companies,&#8221; the publication says.<\/p>\n<\/blockquote>\n<p>Analysts say the described shift reflects the incentive structure of any volatile asset. They explained that traders and investors find it easier to buy it on a rebound than at a local bottom.<\/p>\n<p>Experts emphasise that price fluctuations are entirely normal for young tech products. In their view, this is linked to relatively low market liquidity and the fact that users are still &#8220;assessing the role&#8221; of Ethereum and decentralised applications built on this blockchain.<\/p>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">CoinGecko<\/a>, Ethereum prices rose by almost 35% over the last seven days. As of writing the asset was trading near $1,500.<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/ETHUSDT_2022-07-21_16-50-54-1024x489.png\" alt=\"\u0412 Cumberland \u043e\u0431\u044a\u044f\u0441\u043d\u0438\u043b\u0438 \u043f\u0440\u0438\u0447\u0438\u043d\u044b \u0446\u0435\u043d\u043e\u0432\u043e\u0433\u043e \u0440\u0430\u043b\u043b\u0438 Ethereum\" class=\"wp-image-179561\" width=\"840\" height=\"401\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/ETHUSDT_2022-07-21_16-50-54-1024w\" sizes=\"auto, (max-width: 840px) 100vw, 840px\" \/><figcaption>Hourly chart of ETH\/USDT on Binance. Data: TradingView. <br \/><\/figcaption><\/figure>\n<p>In July 2022, Ethereum developers <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-developers-approve-pos-transition-timetable-cryptocurrency-up-12\">agreed on the schedule for the network&#8217;s transition to PoS<\/a>. The migration is preliminarily planned for September 19.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Experts from Cumberland&#8217;s OTC platform said that Ethereum&#8217;s rally in July 2022 was driven by fundamental factors, and noted rising client interest in the asset.<\/p>\n","protected":false},"author":1,"featured_media":64719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1786,46],"class_list":["post-64718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cumberland","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=64718"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64718\/revisions"}],"predecessor-version":[{"id":64720,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64718\/revisions\/64720"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/64719"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=64718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=64718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=64718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}