Ether’s gains outperform bitcoin ahead of CPI data

The advance of Ethereum’s coincides with less than three days away from the eyed Merge transition ahead of the US inflation data for August that is also awaited by traders and investors.

Currently trading down more than 3% on the day at $1,728 per coin, Ether outperformed bitcoin in August yet the trend has broken over the past week. Bitcoin, on the other hand, had lost a significant amount of investor interest in August, yet, the most famous cryptocurrency has rebounded since the weekend and is changing hands at $22,369, up more than 16% where it stood five days ago.

Even if the merge is successful this week, the crypto market’s enthusiasm for the upgrade could fail if inflation reading comes in higher than the Fed hopes.