First Mover Asia: Solana Market Shrugs Off TVL Fakery With Price Rebound; Ether Climbs on Merge Anticipation

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Ever since CoinDesk reported that a good part of the solana TVL was effectively a blockchain version of a Russian nesting doll, Solana’s token is up; ETH cracks $1.9K on Merge anticipation before falling slightly. TheSamReynolds and JPRubin23 report

The second-largest cryptocurrency by market capitalization continued a two-month surge to crack $1,900 for the first time since late May. Ether was recently trading at about $1,850, about flat over the previous 24 hours as investors continued an early celebration of the Merge, which will shift the Ethereum protocol from a proof-of-work to less energy-sapping, more environmentally friendly proof-of-stake protocol. The token price has jumped more than 85% since dipping below $1,000 in mid-June.

On Wednesday, developers completed the third and final test environment network merge. The mainnet Merge is expected to occur sometime at the end of September. "I'm bullish on Ethereum," Dan Weiskopf, portfolio manager for Amplify ETFs, told CoinDesk TV's First Mover program.Bitcoin, the largest crypto by market cap, was recently trading at roughly $23,800, down slightly from the previous day but still near the upper end of the roughly $19,000 to $24,000 range its occupied since June.

"People are excited about taking on risk again because it seems as if inflation is under control," Weiskopf said."We'll see if that actually proves out. That bitcoin bottomed and now we're at $24,000, a lot of people are excited about that."Crypto prices veered from major stock indexes, which were flat a day after gaining enough ground for the tech-heavy Nasdaq to re-enter bullish territory. The Nasdaq, which is still down 18% for the year, fell 0.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

solana thesamreynolds JPRubin23 Not fair to blame Russians for this also

solana thesamreynolds JPRubin23 What a pathetic joke

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ethereum whale transactions peak at 2-month high amid Goerli testnet mergerThe market “buys the rumor sell the news,” and the ETH price has started to surge in anticipation of a successful transition.
Source: Cointelegraph - 🏆 562. / 51 Read more »