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In September 2022, Ethereum moved to proof of stake , a set of interconnected upgrades that made Ethereum more secure and sustainable. Proof of stake substitutes computational power with staking and replaces miners with validators, who stake their cryptocurrency holdings to activate the ability to create new blocks.The growing popularity of Ether dApps prompts traders to diversify their portfolios.
Historically, BTC and ETH have moved together, but factors such as the rising adoption of Ethereum-based decentralized applications , the popularity of non-fungible tokens and Ethereum's shift to a proof-of-stake consensus mechanism are driving the divergence.According to IntoTheBlock's research, 95% of current ETH positions are now profitable, with its price increasing by 30% over the past seven days.
ETH whales have also begun to make significant moves, following the increased odds of ETF approval. On Tuesday the 21st, ETH recorded an on-chain trading volume of $15.98 billion, marking the highest volume recorded since June 13, 2022.
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Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »