Ethereum digest: what happened in 7 days

The crypto market has reached a new milestone. Its capitalization increased by $1.22 billion in 7 days.

The reason was the announcement of the Ethereum merger date. The indicators of the Greed and Fear Index have also changed. Now this figure is 30, although last week it was at the level of 10-14 points.

The value of ETH over the past couple of days has increased by 29.3% from $1190 to $1539. This is evidenced by TradingView data. At the same time, the hash rate of Ethereum has fallen by 18.21% since June 30.

A large amount of ETH has been withdrawn from exchanges ahead of the update. If as of July 5, 25.13 million ETH were stored on centralized platforms, now it is 22.77 million worth $35 billion.

What is known about the update of Ethereum

ETH 2.0 activation is scheduled for September 19th. True, this does not mean that everything will end on that day. According to Buterin, the Ethereum network will be about 55% complete after the merger.

The mere fact of switching from the PoW consensus algorithm to PoS does not mean that the project will no longer need to be worked on. Developers won't have to sit idly by. There is still a lot of work to be done.

Also, on the eve of the update, many projects announced their readiness to switch to ETH 2.0. For example, zkSync 2.0 will launch its Ethereum 2.0 scaling mainnet at the end of the year. The launch will take place in 3 stages. So far, the distribution of tokens has not been reported.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources . Cryptocurrency is a high-risk asset, investing in it can lead to losses. Readers should do their own research before taking any action.

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