Ethereum ($ETH) Surges Over $2,000 for First Time in Over 10 Weeks As Merge Nears

On Saturday (August 13), the price of $ETH, the native token of Ethereum, went above the $2,000 level for the first time since June 1. According to data by TradingView, on crypto exchange Binance, the $ETH price hit $2,006.36 at 4:24 a.m. UTC on August 13. By 6:19 a.m. UTC, the $ETH price reached $2019.

Timeline of Ethereum

The world's second-largest cryptocurrency Ethereum (ETH) has shot up another 5% in the last 24 hours hitting $2,000 levels for the first time since May 2022. The Ether (ETH) price has been rallying hard since the beginning of July and has gained nearly 100% over the last 40 days.

On-chain data analytics platform Santiment, has pointed out that Ethereum's 80% increase over the past month and the significant market interest on it might be a good sign and can indicate that “things can continue”. ETH bull run just before the merge?

Ethereum's transition into a proof-of-stake consensus mechanism continues to be at the forefront of discussions within the blockchain ecosystem. On 11 August, core developers on the network, on a consensus layer call, suggested possible dates for the Ethereum Merge.

As Ethereum nears the Merge, some blockchain proponents are poised to fork and maintain legacy Ethereum. As was recently reported, EthereumPow (or proof of work) is almost ready to go with certain exchanges announcing possible support.

As the launching of the long-awaited Ethereum upgrade, Merge, approaches, there's a spike in institutional investment. Ethereum products are receiving more attention from big-shot investors.

The co-founder of Ethereum (ETH) is providing an update about when the project will initiate the long-awaited network transition from proof-of-work (PoW) to proof-of-stake (PoS). Leading smart contract platform creator Vitalik Buterin gives his 4.

Ethereum (ETH) Price Analysis The Ethereum price is swinging within an ascending triangle ever since it flipped from the lows a month ago As the final testnet Goerli Testnet went live the ETH price sliced through the crucial resistance and consolidated just above these levels Currently, the price has formed a minute bullish flag which

The Bitcoin (BTC) analyst who predicted crypto's most recent market crash is reemphasizing an old warning of new lows to come. On August 2, pseudonymous trader warned his 475,000 Twitter followers that BTC would bounce to the $25,000 area before crashing to new lows. “$25,000-$25,500, then new lows.

Amercian entrepreneur Anthony Scaramucci is highly bullish about cryptocurrencies in the long term. In a latest, the chief executive officer of Skybridge Capital spoke about his company's crypto portfolio.

What happened: On Thursday a total of 2,045.64 Ether (CRYPTO: ETH) worth $3,879,941, based on the current value of Ethereum at time of publication ($1,896.69), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.