The rally comes two days after Tim Beiko suggested a tentative September 19 launch date for Ethereum’s long-awaited Merge to Proof-of-Stake.
Ethereum Rallies Amid Merge Hype
Ethereum is breaking out.
The number two crypto put in a 12% rally Saturday, briefly touching $1,363 for the first time in a month. It’s since posted a slight cool-off, currently trading at about $1,355.
The ETH rally has led to a bounce across the market, helping assets like Synthetix and Avalanche hit double-digit gains. Lido-staked ETH also jumped just about 12.6%, while LDO, the governance token for the Lido DAO, is up 22.8%. Interestingly, BTC gained around 3.2%, hinting that Ethereum is leading the current rally despite Bitcoin’s dominance over the market.
While the exact reason for the jump is unclear, improving sentiment surrounding Ethereum and its forthcoming “Merge” to Proof-of-Stake may be one factor. On Thursday, the Ethereum Foundation held its latest Consensus Layer Call in which the Merge was...
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