Bitcoin holds above $20,000, Ethereum volatile after ‘Merge’ upgrade

economictimes.indiatimes.com:

Ethereum's much-awaited ‘Merge’ upgrade.Bitcoin fell about 1.17 per cent to $19,674 while the second-largest crypto by market cap, Ethereum, was trading with a cut of 0.68 per cent at $1590. On the other hand, Ethereum Classic was up by over 4 per cent at $38.48 in a volatile session. Compared to Wednesday, the global crypto m-cap barely rose 0.1 per cent to $990.61 billion on Thursday, while volumes tumbled over 8 per cent in the last 24 hours to $88.47 billion as the investor community remained largely skeptical about the ambitious software upgrade. As per a Coindesk report, traders of futures tracking the two tokens took on some $80 million in cumulative losses, with Ether futures seeing $67 million in liquidations.

Did you Know?

From tracking sustainability of products to monitoring pollution, environmental researchers are now finding blockchain’s use in solving the climate crisis.

Primarily, the Ethereum ‘Merge’ is a software upgrade that results in a transition from proof-of-work to proof-of-stake for validating transactions.