Reports have also noted that the presence of other crypto-related domain names offering .sol (Solana), .bitcoin, and .zil (Zilliqa) domains, have increased in the market.
OpenSea moved to Solana back in April, and now Magic Eden is returning the favour by moving to Ethereum.
Coinbase noted that there’s a growing interest among institutional investors for staking cryptocurrencies and generate passive income out of it.
Macro hedge funds may be positioning themselves in advance for the Ethereum merger in September.
Ethereum is currently trading above $1,700 after rising 15% on Thursday as network prepares for The Merge.
Michael Saylor has always favored Bitcoin ahead of other cryptos and MicroStrategy kept increasing its position even during the market pullback and mass sell-off.
Ethereum co-founder Vitalik Buterin recently offered Ethereum Classic as an alternative for people averse to the ETH PoS upgrade.
Essentially, Ether isn’t the only crypto that is rallying. The entire crypto market has picked up in the last ten days by nearly 19%.
Following the excitement around The Merge upgrade, institutional interest in Ethereum has been picking up strongly. ETH breaks past its crucial resistance and is trying to approach $1,700.
zkSync will support scripting languages for EVM-based apps such as Solidity and Vyper. The mainnet launch for zkSync 2.0 shall happen before the end of 2022.
Despite the glimmer of hope in BTC and ETH rally, analysts and investors alike, remain unconvinced about its sustainability.
Bitcoin and Ethereum have shown a strong upside over the last weekend. A strong weekly closing can result in a further price rally ahead this week.
Now that the September 19 date is in view, the Ethereum Foundation developers will set a timeline for the “Difficulty Bomb” to be activated.
Crypto market turned volatile following the US CPI inflation data on Wednesday. Owing to four-decade high inflation the Fed is likely to initiate aggressive QT measures which can force investors to move away from risk-ON assets like crypto.
Many believe the transition, once completed, will pit Ethereum favorably against Bitcoin, closing their gaps.