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Bitcoin, Ether Take Major Revamp of Ethereum Network in Stride

  • Ethereum blockchain undergoes upgrade to slash energy usage
  • Digital assets traded in fairly tight ranges through process
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WATCH: Teong Hng, Co-founder and CEO at Satori Research, discusses the Ethereum Merge and opportunities in the crypto markets.Source: Bloomberg
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Cryptocurrencies traded in relatively tight ranges Thursday as Ethereum, the most commercially important blockchain in the digital-asset sector, underwent a major software upgrade.

The price of Ether jumped to an intraday high of $1,654 shortly after the Merge completed on Thursday, but was down 0.6% as of 12:34 p.m. in London. Bitcoin was up 1.2%. Fairly calm conditions were also evident for coins such as Cardano and Solana.