ETHBTC Touch New Highs
Ethereum versus Bitcoin is a never-ending contest that has put the two communities at odds. Bitcoin still maintains its dominance over Ethereum and the other cryptocurrencies, but the second-largest cryptocurrency by market cap has been steadily closing the gap over the year. ETHBTC had traded at its highest level towards the end of 2021 before a decline sent it falling to yearly lows. However, with the Merge on the horizon, Ethereum has managed to close the gap significantly once more and rally to yearly highs.ETHBTC touches yearly highs | Source:The digital asset continues to show strength against bitcoin even through the downtrend. It has since lost its footing at 0.0847 BTC but continues to hold steady above 0.08 BTC.
Ethereum Merge Casts Long Shadow
Recently, Ethereum founder Vitalik Buterin took to Twitter to explain that the Merge was going to happen sometime between September 13th-15th. This was welcome information as it confirmed for the community that there would be no more postponements, but the move to proof of stake has not sat well with everyone in the community.ETHBTC reaches yearly highs | Source:The most prominent of the disagreements have come in the form of ETH forked tokens in a bid to keep the network on the proof of work mechanism. However, not all crypto platforms have announced support for these forked tokens, and some, such as on Ethereum POS and would not accept any forked tokens.
Featured image from Medium, charts from Arcane Research and TradingView.com
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