Why Crypto Popped on Friday
— Continues, Regulatory, Industry, Arrows, Work, Merge, Week, Popped, Crypto — 1 min read
Solana (Solana) was up 4.1% in the last 24 hours as of 3 p.m. ET and from its Wednesday low is up over 20%. Polkadot (DOT -1.05%) is up 2.7% in last day and 15% since hitting a low earlier this week. Liquidation of Three Arrows Capital continues to be full of chaos, with liquidator Teneo hiring Singapore-based law firm WongPartnership to help get access to the hedge fund's assets in the region. Developer Tim Beiko has proposed Sept. 19 as the tentative date for "The Merge" on Ethereum (ETH 0.97%) that will change the consensus mechanism from proof of work to proof-of-stake. Source