SOL - Why Crypto Popped on Friday
Cryptocurrency values jumped again early on Friday morning before tapering off before the weekend. Overall, this week has been positive for crypto prices and even if there's chaos, there seems to be more certainty than there was just a week ago.
Solana (CRYPTO: SOL) was up 4.1% in the last 24 hours as of 3 p.m. ET and from its Wednesday low is up over 20%. Polkadot (CRYPTO: DOT) is up 2.7% in the last day and 15% since hitting a low earlier this week. XRP (CRYPTO: XRP) was up nearly double digits early this morning and is now up 1% today and 8.8% from its low this week.
Developer Tim Beiko has proposed Sept. 19 as the tentative date for "The Merge" on Ethereum (CRYPTO: ETH) that will change the consensus mechanism from proof-of-work to proof-of-stake . There have been multiple tests and years of development going into this change, and the hope is that transactions per second will increase and the cost of transactions will decline after The Merge. At least right now, we have a target date in mind.
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Why Crypto Popped on Friday