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Ethereum surpassed the $2,000 area for the first time in two months, extending its bullish run after the last testnet merge's completion.
Investors have taken a greater interest in the digital asset since the 15th of September merging date is almost certain.
According to statistics from Coingecko, Ethereum's price has increased by as much as 79% in the previous 30 days and by more than 15% in the last week.
Several market analysts, including BitMEX's creator Arthur Hayes, have projected that the merger will assist in pushing the price of the asset past $5,000.
If the asset is able to trade as high as $3,750, there is a greater likelihood of ETH replacing Bitcoin.
Meanwhile, the merging has garnered significant support from Ethereum ecosystem participants like as Tether, Chainlink, and Circle, who have already said that they would exclusively accept ETH2.
The crypto market is rising.
ETH is not the cryptocurrency whose value has increased over the previous twenty-four hours. During the period, the value of almost 70% of the top 20 cryptocurrencies by market capitalization rose.
Bitcoin's breach over the $24,000 zone was boosted by a 2% gain and is currently up 20.8% over the past 30 days.
However, Solana and Polygon are among the largest gainers during the previous 24 hours.
SOL increased 9.1% during the past twenty-four hours to reach $47.38. Given the difficulties of the Solana network and the recent wallet hack that resulted in the loss of millions, this is impressive.
In addition, MATIC's value surpassed $1 following a 24-hour increase of 8.4%. The token has been one of the strongest performers over the past sixty days, gaining 135%.
The cryptocurrency market has gained 0.5% during the past 24 hours.
50% of Tornado Cash Is Lost in 7 Days
In the past week, the value of Tornado Cash's token TORN has fallen by more than 50 percent, to $12.77.
This week, Tornado Cash has been in the headlines due to its addition to the US Treasury Department's sanctions list.
The crypto mixer sustained more damage after its creator was detained by Dutch authorities.
Since the penalty was imposed, less than $6 million has been placed into the mixer, according to the statistics available.
- The last time Ethereum traded over the $2,000 area was two months ago.
- In the preceding twenty-four hours, Solana and Polygon are among the other stocks with the best performance.
- In seven days, Tornado Cash's TORN has lost almost fifty percent of its value.