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During the day, the largest altcoin by capitalization has risen in price by 6%, it is growing in price on the eve of the most important update
On August 8, the Ethereum exchange rate on the Binance crypto exchange exceeded $1.8 thousand for the first time since June 9. Over the past 24 hours, the value of the altcoin has increased by 6%, and its market capitalization has reached $216 billion, according to CoinGecko.
The cryptocurrency began to rise in price after its price fell to a local low of $881 on June 18. Since then, the value of the asset has increased by 105%.
Previously, three crypto exchanges supported the trading of Ethereum hard fork tokens. Last week, the Poloniex and MEXC platforms announced the start of ETHS and ETHW trading, and on August 8, BitMEX launched a futures product based on ETHPoW tokens.
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In the event that two blockchains are formed, then the exchanges will support the holders of both tokens: ETHS will be converted to a new version of ETH, and ETHW will continue to exist, possibly under a different name that the community will choose.
If the ETH 2.0 update is completed without a fork of the blockchain, then the cryptocurrency will retain the former ETH designation. In this case, Poloniex and MEXC will suspend and delist ETHS, ETHW and related markets, and ETHS will be converted to upgraded ETH.
The transition of Ethereum from PoW to PoS is gradually approaching completion. The last Goerli testnet is due to make the transition around August 11th. If all goes well, the Ethereum mainnet upgrade will be scheduled around September 19th.
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