Market Analysis markets Ethereum Ethereum 2.0 Ether price Market Analysis

Ethereum price rises by 50% against Bitcoin in one month — but there's a catch

Reading now: 357
cointelegraph.com

Ether (ETH), Ethereum's native toke, has been continuing its uptrend against Bitcoin (BTC) as euphoria around its upcoming network upgrade, "the Merge," grows.On the daily chart, ETH/BTC surged to an intraday high of 0.075 on Aug.

6, following a 1.5% upside move. Meanwhile, the pair's gains came as a part of a broader rebound trend that started a month ago at 0.049, amounting to approximately 50% gains.The ETH/BTC recovery in part has surfaced due to the Merge, which will have Ethereum switch from proof-of-work (PoW) mining to proof-of-stake (PoS).From a technical perspective, Ether stares at potential interim losses as ETH/BTC paints a convincing rising wedge.

Read more on cointelegraph.com
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA