Why Ethereum Is Rallying Today
Ethereum (CRYPTO: ETH) is up 4.82% in the past 24 hours, to $3,235.69 per token as of 2:30 p.m. EDT. The token has been gaining momentum all week, with a return of 20.26% in the past seven days. Investors are still digesting Ethereum inventor Vitalik Buterin's proposal for another major update to switch Ethereum to a proof-of-stake (PoS) protocol.
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The environmental sustainability of crypto mining was a major reason behind the fear, uncertainty, and doubt ("FUD") that plagued the crypto market for much of May to late July. For example, it takes as much energy to process one Bitcoin (CRYPTO: BTC) transaction as it does 1.2 million Visa transactions. That number is only going to rise in the future as Bitcoin's mining difficulty increases exponentially as per design.
Source Fool.com
