Cryptocurrency Prices Today August 25: Ether gains over 3% as major cryptos trade in green
Major cryptocurrencies were trading in green early on August 25. The global crypto market cap was $1.03 trillion, a 1.33 percent increase over the previous day.
The total crypto market volume over the last 24 hours was $65.33 billion, which makes a 7.59 percent decrease over the previous day.
The total volume in DeFi, or decentralised finance, stood at $4.70 billion, 7.19 percent of the total crypto market 24-hour volume. The volume of all stablecoins was $59.82 billion, accounting for 91.56 percent of the crypto market's 24-hour volume.
The price of bitcoin hovered at Rs 17.99 lakh. Bitcoin’s dominance was 39.73 percent, a fall of 0.15 percent over the day, according to CoinMarketCap.
How Ethereum Merge will mark a significant milestone in the crypto world
Ethereum, the second-largest blockchain in the world by market capitalisation, will undergo a massive network update around September 15, 2022, which will completely transition it to a proof-of-stake (PoS) consensus algorithm from the current proof-of-work (PoW).
The upgrade, called 'The Merge', will merge the Ethereum Mainnet with the Beacon Chain, making the cryptocurrency greener, more efficient and much more appealing to investors.
Mainnet is the primary public Ethereum production blockchain, where actual-value transactions occur on the distributed ledger.
The Beacon Chain is the PoS coordination mechanism of the new network, responsible for creating new blocks, making sure those new blocks are valid, and rewarding validators with Ethereum for keeping the network secure. Read more details here.
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