Electric Ether cryptocurrency leaps on verge of Merge event
The Hindu
Ether has seen six consecutive weeks of gains, pushing it up from a 1-1/2-year low of $880 in mid-June to levels closing in on $2,000
It looks like Ethereum's mega-upgrade is happening. Finally.
After years of delays, the "Merge" seems all but certain to take place in September, with the cryptography underlying the blockchain undergoing a radical shift to a system where the creation of new Ether tokens becomes far less energy-intensive.
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"It's an exciting time for the Ethereum ecosystem," said Omar Syed, co-founder of smart contract platform Shardeum. "I think there will be drama surrounding the Merge, but I don't think there will be any technical hiccups."
Investors seem to agree, with Ether outstripping big brother Bitcoin.
Ether has seen six consecutive weeks of gains, pushing it up from a 1-1/2-year low of $880 in mid-June to levels closing in on $2,000, even though it's way off its November 2021 peak of $4,868.79.
Bitcoin has paled in comparison, rebounding 37% from its June low to $24,116.
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