ETH is back in the crypto market after the new announcement

Ethereum has risen by 30% since the beginning of July, which provoked a severe increase in the number of whale addresses, analysts say. About 130 new wallets have been registered in the Ethereum network. An increase in the number of whales may indicate that traders are interested in gaining solid positions.

The value of the second largest cryptocurrency rose by 13% over the past weekend. On Monday, July 18, the price of ETH hit an all-time high of over $1’400 since mid-June.

According to Coingecko, Ethereum’s market capitalization also exceeds $170 billion with daily trading volumes of $17 billion. The possible term of the transition to PoS (Proof of Stake) was finally announced. The merger of Ethereum with the test blockchain is scheduled for September 19 this year.

“Please, bear in mind that the timeline isn’t final, but it’s very interesting to see what it adds up to. Please consider this as a planning schedule and stay tuned for official announcements!”, note the Ethereum representatives.

According to independent market analyst Scott Melker, “A break above $1’284 should see prices lower as there is practically no bear resistance to $1’700.”

However, not only Ethereum shows positive dynamics. The main crypto coin has crossed the $22’000 mark (at the time of publication). Over the past 7 days, the bitcoin rate has increased by more than 8%.

And former BitMEX CEO Arthur Hayes predicts Bitcoin value could slightly rise if the FED conducts a monetary intervention to weaken the US dollar.