Ethereum moved into a stronger uptrend shortly after hitting its minimum price in mid-June, outpacing Bitcoin in a clear and persistent way. Data from CNBC shows that by June 19 the ether rally had already surpassed a 100 percent gain from its low, underscoring a shift in momentum across the largest digital asset market.
Analysts note that Bitcoin touched a recent trough near 17.6 thousand dollars and has since climbed about 31 percent, while Ethereum, which slipped to roughly 880.9 dollars, demonstrated a much sharper recovery with a gain of about 106 percent. At the time of observation, Ethereum traded around 1.8 thousand dollars, highlighting a substantial rebound from the summer lull.
CNBC attributed much of the renewed optimism to the anticipated upgrade to Ethereum’s consensus mechanism. The much-anticipated transition, expected to occur on September 15, would move the network away from traditional mining toward a Proof-of-Stake model. Analysts also acknowledged the possibility that Ethereum could reach the two thousand dollar threshold as market sentiment improved. The main caveat cited was the risk of delays in finalizing the switch to Proof-of-Stake.
Vitalik Buterin, the co-founder of Ethereum, has affirmed that the Merge upgrade would go live on the scheduled date. The upgrade would disable conventional mining and introduce staking as a way for holders to earn ether without relying on energy-intensive hardware.
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Attribution: CNBC reports on the price movements and the expected Merge upgrade, while Vitalik Buterin’s public statements and the broader discussion of staking and passive income are covered by industry commentary and market analysis sources.