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.
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Source: Cointelegraph - 🏆 562. / 51 Read more »