( Ethereum is experiencing a surge as the merge date approaches)
After the upgrade announcement, Ethereum is experiencing a surge.
As of now, Ethereum is the most trending and popular crypto coin. It’s been trading at $1,564 and recorded a profit of 8.13% for around one week.
During the weekly move of cryptocurrencies, Ethereum peaked high as its anticipated announcement was made recently.
Avax investing is also profitable for investors in the current July. All of this, Ethereum has been in the limelight for a few months with the sudden growth it has shown in a few weeks. This final update is taking place after almost a six-year-long wait.
So there is no doubt why developers and investors are eagerly waiting for this long-awaited move. Ethereum’s old coin and Ethereum classic have also been placed 5th with a gain of 8.13%, trading at $32.09.
Key points
- Ethereum price is continually rising since the merge date was announced.
- The Merge is a monumental moment for ethereum, which will shift it from proof-of-work to proof-of-stake.
- Ethereum merge will cut the network’s energy consumption by approximately 99.95%.
How does Merge bring a surge in Ethereum?
The Merge can impact many popular cryptocurrencies, including Ethereum, Dogecoin, Ripple, Cardano, and bitcoin. The Merge will shift the Ethereum proof-of-work- a mechanism to a proof-of-stake, boosting many important functions of the network, its pricing and market cap.
As the merge date nears, experts believe ETH will gain a steady pace and significantly impact the Ethereum classic price.
Ethereum’s new proof-of-stake mechanism brings improvements and better efficiency to the ETH blockchain network. The latest upgrade in Ethereum is the most important in the history of the crypto network.
In July, just after the merger update news, Ethereum’s price surged up to 40 %, and after its testing version Goerli, September 11, the prices are continually increasing.
With the Merge of new and testnets, Goerli caused the hike in Ethereum prices before the actual Merge. However, the long-term impact can’t be predicted, but as the wave suggested, the upgrade will lift prices in a short time.
Recent data also shows that a merge will bring quick momentum and stable growth for Ethereum. In addition, the Merge will create new investment options for future traders, providing them with a better and more efficient network.
The world’s second cryptocurrency, ethereum, is trading at over $1,500 — a significant rise in the last two days.
When is it happening?
The Merge is probably one of the biggest crypto events of the year. It is scheduled to take place between September 20 and September 22. However, the exact date and time need to be clarified.
Major crypto exchange platforms Coinbase, Gemini, and Binance said to pause the withdrawal and deposit of the ethereum coin during the upgrade. Users don’t need to worry or do anything to the funds kept in their wallets, said exchanges.
Merge has been delayed in the past, which impacted its prices in April. But this time, the event is set for September.
What Will the Ethereum Merge Mean for Your Crypto Investments?
There has been a lot of hype around the market about how the ethereum merger will affect the market. This hype also brought some bullish sentiments for the crypto market.
As the merge date nears, the ethereum price is moving positively; recently, it also recorded 3 % growth. Ethereum has recorded 40 % growth since the merge date was announced. Bitcoin has risen by approx 10 % after the announcement, trading at around $22,000.
Smaller altcoins also followed the lead and experienced growth. There are several factors why the crypto price is rising; however, the biggest is the announcement of the ethereum merger. Ethereum is shifting from proof of the work to proof of stake in September 2022.
The Merge could bring a big change in the ethereum ecosystem. This will reduce its environmental impact, bring new change, and improve its transaction speed and scalability issues.
This could also increase momentum in ethereum prices which is why ethereum could be a lucrative investment option for investors. Some experts predict by the end of 2022, ethereum will see significant price hikes, and its price could double or quadruple after the popular upgrade.
Technical expert educator Wendy O says,” things are looking quite good for ethereum when analyzing the technical parameters.
Should You Invest in Ethereum?
Whether it’s any kind of investment, financial experts suggest not investing more than 5 % of your investment. You should always prioritize other things before making any kind of investment, such as paying debt, building your emergency fund, retirement plan, health insurance, etc.
Crypto is a riskier asset, so never invest more than you can afford. If you already manage all other things and you have extra money, then you can bet your future with ethereum.
After the Merge, Ethereum will be one of the top cryptocurrencies, which has the potential to grow with a better network and lower power emissions. Along with bitcoin, experts believe that ethereum is one of the top cryptocurrencies that can continue to surge and break its high record of 2021.
Conclusion
The Merge is a new milestone and growth opportunity for ethereum native cryptocurrencies, ETH, ETC. This new upgrade will also empower the network, effectively introducing a better transaction system. However, we can only predict the future performance of cryptocurrency and Ethereum prices.
FAQs
Q. What is the effect of the Ethereum merge?
Ans. Merge will improve many things in the Ethereum network. It will change its entire tokenomics, including distribution power usage and efficiency.
Q. Should I buy Ethereum before the Merge?
Ans. Along with bitcoin, experts consider ethereum to be one highly profitable cryptocurrency in the long term. It will grow after 2022.
Q. How long will the ETH merge take?
Ans. Ethereum merge is a long-awaited moment. It will be tested before the final upgrade. The actual process will take place in about 12 minutes.
Q. Can you still mine Ethereum after the Merge?
Ans. No, you can not mine ethereum. But can earn profits by staking Ethereum.
Q. What will happen to Ethereum after the upgrade?
Ans. Ethereum will become more energy efficient after the upgrade. It will cut up to 90 percent of its powder usage and improve its efficiency.
