ETH is up 12% today following a successful test ahead of the upcoming “consolidation”, and following US CPI data showed that inflation slowed in July.
After inflation data from the US and the successful Ethereum Proof of Stake test, the original ETH coin price reached a high of $1,905.
Notably, on Wednesday, the Ethereum network conducted its last test before the major upgrade, which is expected to take place in mid-September.
Ethereum tested the network, Goerli, named following a train station in Berlin, proving a working method that will work across the entire network following the upcoming “merger”, and the experiment was successful.
Investors’ eyes are watching the steady rise in the price of Ethereum ahead of the September Proof of Stake “merger”.
Challenges have arisen to block a clean Proof of Stake ‘consolidation’, with some Ethereum miners wanting to preserve the old way of verifying transactions and creating their own coins, which can be listed on the exchanges as ETHW.
The price of Ether dropped to $877 in July and has since doubled to $1,885 (at the time of writing).
The second largest cryptocurrency, Ethereum by market cap, is up 12% in the last 24 hours and 16.2% in the last week.
Source: Yahoo Finance