Why Ethereum, Bitcoin, and Dogecoin Jumped This Morning
Crypto values jumped early on Thursday as Ethereum (CRYPTO: ETH) moved a few steps closer to "The Merge." This is generally seen as a bullish move for crypto use cases because Ethereum has the largest base of developers and many tokens are on the Ethereum blockchain.
The value of Ethereum was up as much as 7.9% in the last 24 hours as of 1 p.m. ET. Bitcoin (CRYPTO: BTC) had jumped 6.2%, and Dogecoin (CRYPTO: DOGE) was up 8.2% at its peak.
At 1:45 a.m. UTC (9:45 p.m. ET on Wednesday), the Goerli testnet moved from proof-of-work to proof-of-stake, the last test before the main blockchain will make such a move. Goerli is an active test blockchain where developers can see if new systems work as planned before moving to the main blockchain. Ethereum has gone through a number of tests ahead of the transition to proof-of-stake operations to find potential bugs and this is the last one expected before the final merge.
Source Fool.com
