Ether jumps after Ethereum inches closer to long-awaited upgrade.
By The Exchange Team
Ether rose as developers conducted a final dress rehearsal for a key upgrade next month.
Thursday was Ether's highest day since early June, according to CoinMetrics. The token last traded at $1,901.69, up 4.4%.
Ethereum performed its final dry run for the "merge" on Wednesday, which will make it faster and more energy-efficient.
Ethereum's test network Goerli simulated the identical process that main network will execute in September.
Testnets let developers experiment and make improvements before mainchain updates.
Ether's underlying blockchain will change from a proof-of-work system to a proof-of-stake model, which is more efficient.
Crypto miners verify proof-of-work transactions. Proof-of-stake networks require validators to keep tokens, making them less energy-intensive.