After a long wait, we’re finally here. The Ethereum 2.0 merge will take place approximately Sept 15-16th according to reports.
The merge final tests!
After completing the final test run for the network’s critical “Merge” upgrade, Ethereum briefly surpassed $1,900 today.
The Goerli testnet Merge with the Prater testnet today was the last step before the network switched to Proof-of-Stake. Following a successful launch, it appears increasingly likely that the Merge will take place as planned in mid-September.
Companies show support to the transition!
Some of the most prominent cryptocurrency companies, including stablecoin issuers Tether and Circle, have expressed support for Proof-of-Stake Ethereum amid discussions about the possibility of a Proof-of-Work fork. Because of the impact on miners, some community members have discussed forking the network. Miners will essentially become obsolete when the network switches to consensus, as validators staking coins will verify transactions. As a result, exchanges such as Poloniex and Binance have expressed interest in listing potential ETH fork tokens in order to meet demand.
Ethereum is gaining significant bullish momentum as everything appears to be lining up for a successful transition to Proof-of-Stake.
Following the success of the merge test, ether led a broad rally among digital assets on Thursday, with the total value of all cryptocurrencies increasing by more than $70 billion in a single day to $1.2 trillion. Bitcoin was up 6% at $24,507, reaching a nearly two-week high, while Binance’s BNB token was up 3% at $330.