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

This article is by Simon Peters, Market Analyst at eToro.

Photo: Adobe Stock

L ‘Eat – The cryptocurrency associated with the Ethereum blockchain – returned after the release of the tentative launch date for The Merge. The cryptocurrency rose to over $ 1,400, the highest level in more than a month, after falling close to $ 1,000 at times last week.

that Bitcoin also hit its highest level in a month, trading around $ 22,000 this morning, in a favorable boost after the Ether revelations. The Bitcoin token had at times traded below $ 19,000 last week on the eToro platform, but appears to be making significant gains.

Reversal of recent sales in the crypto asset sector is a very encouraging indicator that investors are still realizing value as new information and cycles take hold.

The events of the last few days have shown that cryptocurrencies are moving above the stock profit curves, with large indices relatively flat. While this does not necessarily indicate a decoupling of aerial mirroring from recent performance, a divergence over a longer time frame may mark a significant shift.

Ether rises after the fusion date

The price of Ether soared after the tentative date of the Ethereum blockchain merger was announced. The price of Ether began to rise on Thursday when Ethereum Shadow Fork was launched.

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

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

The shift to a proof of stake network has the theoretical potential to make Ether deflationary, and investors appear to be setting their positions in anticipation of this.

Polygon selected for Disney Accelerator

Blockchain company Polygon has been selected for 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 and Web3 technology in its final financial year.

It is extremely encouraging to see a company as culturally influential as Disney engage in the development of companies fighting for these themes. We have seen time and time again that despite the market’s setbacks, the major players are always ready to support and develop promising projects, which is a true indicator of the sector’s current potential.

Polygon will benefit from the contribution of a large and 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 the MATIC crypto asset, already has a number of entertainment, sports and gaming-focused projects on its channel that will benefit greatly from Disney’s contribution.

The British courts approve the NFT’s lawsuit

Legal documents released last week show that a British judge approved the delivery of legal documents as NFTs via blockchain. The event is an alluring glimpse of what NFT technology is capable of beyond the digital art it has recently come to symbolize.

NFTs have had great success in 2021 thanks to large collections such as the Bored Apes Yacht Club (BAYC), which itself has spawned a cryptoactive, Apecoin. But valuations have been hit hard by the crisis, and many are questioning the use or popularity of this technology.

But the transmission of documents from the NFT on the blockchain highlights a fascinating area for NFTs that is still a bit explored. Everything can be converted into NFT, whether it is documents or certificates of ownership, whether it is real estate or traditional shares. The fact that a court would allow such a move sets a fascinating precedent and underscores the fact that this space has great potential in the future.

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

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