ETH addresses holding more than ten coins have also reached new highs. This increase in address activity has been critical in igniting the positive momentum seen in the Ethereum network.
According to CoinMarketCap, the second-largest cryptocurrency rose 11.09 percent in the last seven days to $1,691 during intraday trade.
The recent news that the most likely date for the merger is September 19 has also aided Ethereum's rise.
The merger is anticipated to convert the Ethereum network from its current proof-of-work (PoW) architecture to a proof-of-stake (PoS) consensus mechanism, which has proven elusive for several years.
Because validators will stake Ether instead of solving a cryptographic puzzle, the PoS algorithm will allow for more cost-effective and environmentally friendly block confirmation.
As a result, the merging is expected to be the most significant software upgrade on the Ethereum network.
Download our app WikiBit to stay up to date on this risky industry and check the qualifications and reputation of projects to protect yourself from hidden danger in this risky industry!
iOS: t.ly/UUCj
Android: t.ly/cfYt