The price of Ethereum (ETH) has spiked by more than 13% over the course of 24 hours, according to CoinMarketCap data.
Goerli recently became the third Ethereum testnet to transition to the proof-of-stake algorithm. This was the final dry run before the much-anticipated merge upgrade that is expected to take place in September.
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JPMorgan analysts recently opined that the upcoming merge upgrade was the main bullish catalyst for the market.
As reported by U.Today, cryptocurrency prices spiked sharply higher because of the cooler-than-expected consumer price index (CPI) print. The optimistic inflation reading helped to assuage rate fears.
Vladislav Sopov
U.Today Editorial Team