Shortly after reaching the minimum price in mid-June, the Ethereum cryptocurrency started to grow and outperformed Bitcoin significantly. by channel CNBCOn June 19, Ethereum added more than 100% in price.
According to analysts, Bitcoin hit a low of $17.6k and has since risen 31 percent in price, while Ethereum, which dropped to $880.9, is up 106 percent. Ethereum is currently trading at $1.8k.
CNBC explained the optimism of investors with the upcoming change to the Ethereum algorithm. On September 15, the blockchain is expected to switch from mining to a Proof-of-Stake (PoS) model. Analysts also acknowledged that Vitalik Buterin’s cryptocurrency could hit the $2,000 bar. The only negative factor was the delay in transitioning to PoS.
Former Ethereum creator Vitalik Buterin declarationHe said the network upgrade, called Merge, will happen on September 15. As a result, traditional cryptocurrency mining will be disabled and holders will be offered to earn ether using staking.
“socialbites.ca” Wrote about this and other ways to earn passive income from cryptocurrencies in the crypto winter. The article explains the advantages and disadvantages of each of the methods, as well as the annual percentage and top cryptocurrencies for each.