Bitcoin and Ether price reached their highest level in over a month

This article was written by Simon Peters, Market Analyst at eToro.

Photo: Adobe Stock

L ‘ether Crypto-asset tied to the Ethereum blockchain – rebounded after the release of the initial launch date for The Merge. Crypto assets jumped above $1,400, their highest level in more than a month, after dropping near $1,000 at times last week.

The Bitcoin It also reached its highest level in a month, trading around $22,000 this morning, in a positive boost following the unveiling of Ether. Bitcoin traded below $19,000 at times last week on the eToro platform, but it appears to be making significant gains.

The reversal of the recent sell-off in the crypto-asset sector is a very encouraging indication that investors are still realizing value as new information and cycles take hold.

The events of the past few days have shown crypto assets moving above the stock advance curves, with major indices relatively flat. While this does not necessarily show a separation of the mirage from recent performance, variation over a longer period of time could indicate a significant change.

The ether flies after the merger date

The price of Ether skyrocketed after the announcement of the provisional date for the integration of the Ethereum blockchain. The price of Ether started to rise on Thursday, when the Ethereum Shadow Fork was launched.

This fork was the latest in a series of tests for the upcoming Ethereum “crash” and was implemented to test the update on a more powerful network. The final test is now scheduled for August 11, and the mainnet integration is now scheduled for September 19.

The high price was directly related to the spread of reports that the test was successful. This is a good indicator of investor sentiment towards the merger, which has been described as a major change for the blockchain and its token.

Going to a proof of stock network has the theoretical potential to make Ether deflationary, and investors seem to be positioning themselves in anticipation.

Polygon selected for Disney Accelerator

Blockchain company Polygon has been selected to join the Disney Accelerator Program, a business development program for highly innovative companies. In its announcement, Disney said it wanted to focus on augmented reality, NFT technology and Web3 in its final fiscal year.

It is very encouraging to see a culturally influential company like Disney getting involved in developing work advocating for these themes. We have seen time and time again that despite the adversity of the market, the big players are always ready to support and develop promising projects, which is a true indication of the current potential of the sector.

Polygon will benefit from the contribution of a large, mature company that knows how to get the most out of digital and creative media. The company, which provides blockchain technology to build decentralized applications (DApps) and uses MATIC crypto assets, already has a variety of entertainment, sports and gaming projects on its channel that will benefit greatly from Disney’s contribution.

British courts approve NFT subpoena

Court documents announced last week showed that a British judge has authorized the delivery of legal documents such as NFTs via blockchain. The event is a tempting glimpse into what NFT technology can transcend the digital art it has recently become an icon for.

NFTs took a hit in 2021 thanks to major groups such as Bored Apes Yacht Club (BAYC), which itself produced a crypto asset, Apecoin. But valuations have been hit hard by the crisis, and many question the technology’s usefulness or popularity.

But the transfer of documents by NFT on the blockchain highlights a fascinating area of ​​NFTs, which is still a little explored. In fact, everything can be converted to NFT, whether it is documents or certificates of ownership, whether it is real estate or traditional shares. The fact that the court would allow such a move sets a wonderful precedent and underscores the fact that this space has a lot of potential in the future.

This text is a press release. Do your own research and only invest money you can afford to lose.

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