[Asia Economy New York=Correspondent Baek Jong-min] While the cryptocurrency Bitcoin hovered around the $41,000 range, Ethereum, the second largest by market capitalization, showed a strong upward trend.
According to CoinMarketCap on the 1st (local time), Bitcoin is trading at $41,314, down 0.19% compared to 24 hours ago.
On the other hand, Ethereum is trading at $2,677, up 8.5%.
Ethereum recorded its highest level since mid-June. After reaching an all-time high of $4,357 on May 12, Ethereum fell to around $1,700 but has been attempting a rebound since then.
The cryptocurrency media Decrypt reported that Ethereum is showing strength ahead of the scheduled 'London Hard Fork' on the 5th.
Bloomberg also predicted that the London Hard Fork could slow the supply rate of Ethereum, driving price increases.
Meanwhile, Dogecoin is trading at 21.1 cents, up 1.45%.
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