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Upcoming Ethereum Merge Boosts Crypto Market Cap By 15% in a Week

Following Ethereum Merge’s revelation that arrived on July 15, Ether’s price climbed by 38.5% from $1,190 to a daily high of $1,650 on July 22. 

Over the past week, in addition of Ether increasing in price, total market capitalization has also increased by 15% to its value of $1.051 trillion.

Projects associated with Ethereum also gained some benefits with its switch over to proof-of-stake (PoS) which can secure the soon-to-be orphaned nodes in a blockchain of vast mining network. 

Over nine days, Ethereum Classic (ETC) price has gained 100%, which suggested there are several traders who anticipated a miner migration to ETC.

After the Merge data is revealed, the price of liquid Lido DAO (LDO), the benefactor of Ethereum-related developments, has increased by 80% to $1.59 after spiking to a high of $1.92 on July 20.

Ethereum Merge is not the only factor that contributed to the rise of LDO, as protocols like Solana (SOL) and Polkadot (DOT) also provided additional supports.

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SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

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