According to Ethereum developers, the Merge could be brought forward to September 15 or 16. A few days of grabs for the most anticipated event on the crypto planet.
Provisional program for 15 or 16 September
The MergerEthereum’s transition from proof-of-work to proof-of-stake, would be carried over to 15 or 16 September according to some blockchain developers. Originally scheduled for September 19, it would be just a few days before the most anticipated crypto event of 2022 took place.
The Ethereum mainnet merge is tentatively scheduled around September 15/16.
The Merger is coming 🐼
— sassal.eth 🦇🔊🐼 (@sassal0x) August 11, 2022
There are remains more than two steps before this move held on the blockchain: the Bellatrix and Paris upgrade. Bellatrix will be upgraded on September 6th when it takes place in Paris on September 15th. After passing all the previous tests on the various test networks, the the developers are optimistic about this move to proof of issue.
Again, all these dates are tentative and may still move at any time as is usual with Ethereum. The blockchain has indeed adopted the a healthy habit to deploy its updates only when they are definitely ready. She avoids many worries…
Effects of the Merger
The Ethereum Merge must allow the blockchain take a new step. The latter must win speed, scalability and should sidestep recurring congestion concerns that she has known in recent years.
Additionally, this change to proof should affect the number of Ethers in circulation. In fact, the rate at which the Ethereum supply increases must be slowing. We therefore expect, in the event that demand will increase with a sharp increase in the price of Ether. This is one of the elements that attracted many investors to Ethereum in recent weeks.
Indeed, it will no more mining, on the Ethereum blockchain. So miners are moving to other blockchains like Ethereum Classic, which has seen a huge surge of interest in recent weeks. The original Ethereum blockchain will continue to operate with a proof-of-work mechanism.
Ethereum is currently trading around $1900, up 13.5% over the week. It is approaching the symbolic bar of $2000, which it has not reached since May 25, 2022. The asset is still far from its IS at $4891 with a a decrease of 61.37% from the latter.
Dumping expected in October?
this However, the rise could be short-lived according to the analysis of the options taken on Ether for the month of October. Many observers indeed believe that we will be dealing with a typical case of “buy the rumor and sell the news” to buy upstream from the Merger and drop in price once it is in place.
Blockchain analytics firm Glassnode has studied various data on options and data traders:
If we look at the September contracts on the Deribit exchange, the bias of Ethereum traders is immediately clear. Eclipse call options added volume, traders betting on ETH prices above $2.2k, with significant open interest even up to 5.0k $.
Very bullish vision for September which could be reversed once the Merger is in place. ETH volatility data shows that traders bet on a fall in the stockf. Glassnode seems to think that traders protect themselves with put options in the event of a downturn.sell the news“.
For the first time in history, full open interest on Ethereum options more than Bitcoin with 6.6 billion dollars against only 4.8 billion for Bitcoin.
Therefore, the revival of this clear form is necessary on the part of Ethereum carefully blessed. In addition to traders’ forecasts and this possibility of dumping after the Merger, many factors could come to hinder the second largest market capitalization. Macroeconomic conditionsalthough better, remains fragile and a rise in inflation would certainly change the cards.
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