Ethereum climbs near $1,500 amid rumours of impending update

The price of Bitcoin (BTC) has climbed for a third consecutive day, hitting highs not seen since mid June. The largest cryptocurrency by market capitalisation is up around three per cent over the past 24 hours this morning, changing hands for more than $22k.

Also Read: Low Sentiment Holds Bitcoin Below $20k

Other major cryptocurrencies have also seen a promising start to the week, with the price of Ethereum (ETH) currently trading just below $1,500 – the highest it’s been for more than a month. The second largest cryptocurrency by market cap is now up eight per cent since this time yesterday and 29 per cent since this time last week.

Ethereum’s positive price moves come amid rumours that its transition to proof-of-stake (PoS) mining could soon complete. On Thursday, the Ethereum network successfully ran one of the last tests before the so-called ‘Merge’, which will transition the entire Ethereum network onto a PoS consensus mechanism that it’s hoped will make the second-largest cryptocurrency more sustainable in the long term.

Also Read: CBN Conversion of Domiciliary Accounts Could Lift FX Reserves by 43%

The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.

We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping them get started.

Also Read: Bitcoin: Most Common Myths Busted

This article was culled from city.com

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