For a very long time, Mark Cuban has supported cryptocurrencies like Ethereum. That wasn’t always the case, though; he was the one to assert that bananas were more useful than bitcoin.
In the meanwhile, he has even developed into a strong supporter of Dogecoin, and when his basketball club, the Dallas Mavericks, competes, you can even purchase hot dogs with this cryptocurrency.
Cuban supports the expansion of Ether, the second-largest cryptocurrency in the world. This is primarily because the blockchain will soon be able to achieve a 1000-fold reduction in energy use. In addition, Ethereum is the world’s biggest platform for smart contracts. The network accounts for 58% of the total capital (TVL) invested in DeFi initiatives, according to DeFiLIama.
The Bellatrix update will be available for the merger launch on September 6th, according to a statement made by the Ethereum Foundation yesterday. The real merger will then occur between September 10 and September 20 when a previously specified Total terminal complexity level is attained. Reached level of difficulty:
“The successful upgrade of all public testnets is now complete, and the merge for the Ethereum mainnet is planned. The merge is a two-step process. The first step is a network upgrade, followed by moving the execution layer from proof-of-work to proof-of-stake.
The timing of the merger is determined by a Terminal Total (EPA:TTEF). Difficulty (TTD) of 5875000000000000000, which is expected to be triggered between September 10 and September 20, 2022. The exact date the TTD will be reached will depend on the proof-of-work hash rate.”
The developers shouldn’t have any time to relax before to the merging even though everything is completely prepared. Critical bug finders can receive prizes of up to $1 million from the Ethereum Foundation.
Technical Benchmarks for Ethereum
ETH/USD has increased by 3.23% in the last day to $1708, however the cryptocurrency has lost -7.99% on a weekly basis.
The $1582 level, which represents the 61.8 percent Fibo retracement of the August 19 decline, provided strong support. The bulls stopped a prolonged decline below this level, which would have sparked a rebound.
The 78.6% Fibo retracement, or $1772, serves as the next direct barrier. The psychologically significant barrier of 1800 dollars serves to further support this. The upward advance might continue toward the psychological threshold of $2,000 if we are able to pass it.
Losses can only be anticipated toward the $1449 area of the 50% Fibo retracement if the bulls are unable to continue defending the 61.8% Fibo retracement.
