The volumes of cryptocurrency exchanges increased with the Merge upgrade.
According to data from Crypto Compare, trading activity on crypto exchanges has been on the rise.
The Volume of Cryptocurrency Exchanges Increased
Cryptocurrency volumes rose from $18.1 billion on September 6 to $28.6 billion on September 16.
The increase in transaction activity came with Ethereum’s transition to the proof-of-stake algorithm.
According to data from CoinGecko, Ethereum investors accounted for 43% of the volume on the FTX.US exchange in the last 24 hours.
Similarly, 34% of the volume on the Coinbase exchange came from the activity of Ethereum investors.
Merge Happened Successfully
Ethereum’s long-awaited Merge upgrade took place recently. Ethereum founder Vitalik Buterin announced on Twitter the successful completion of the Merge.
Buterin used decarbonization data to explain the significance of Merge. The network’s switch from proof-of-work to proof-of-stake resulted in approximately 99% savings in energy usage. According to Buterin, this is one of the largest decarbonisation movements in the world.
The largest altcoin Ethereum is trading at $1,460 at the time of writing.
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