Ether Continues To Outperform At Above $1,600 Over The Weekend

According to TradingView statistics, the price of Ethereum’s native token continued to rise over the weekend, trading above $1,600 for most of Sunday.

Ether Continues To Outperform

On Sunday afternoon, the coin was up nearly 4%, following a rise in the middle of July. Over the last 24 hours, it has ascended around 6%. Since bottoming out at over $1,000, the coin’s price has increased by more than 40%.

According to a market commentary letter by LedgerPrime, Ethereumcontinues to beat the other cryptocurrencies. ETH seemed to build a base above the $1.5K mark, where it started a fresh uptrend and ascended throughout the week to $1.65K, at which it hit substantial resistance.

Solana and MATIC are up 4.1% and 5.7%

Solana and MATIC are up 4.1% and 5.7%. Image: Trading View

Ether is not the only cryptocurrency seeing increases; Solana and MATIC are up 4.1% and 5.7% over the last 24 hours.

Over the previous 10 trading days, the market has increased by around 19%, and the market capitalisation has once again surpassed $1 trillion.

Bitcoin has developed more slowly than Ethereum, with a 15% growth in value within the same time.

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Bitcoin has progressed slowly. Image: TradingView

The move from proof-of-work to proof-of-stake for Ethereum is imminent. This week, cryptocurrency market maker Cumberland reported that institutional investors had increased their long ether holdings.

The Sepolia testnet successfully merged to proof-of-stake on July 6, paving the way for an early-autumn mainnet merging, according to a tweet from the company.

Ethereum’s value is still well behind its November 2017 all-time high of over $4,800. Since then, its price has decreased in tandem with other cryptocurrencies, plummeting between June and May amid broader market volatility.