HomeEthereumEthereum crossed 1500 dollars the merger will not take place on September...

Ethereum crossed 1500 dollars the merger will not take place on September 15.

-

The changeover of the blockchain from proof-of-work, which consumes a lot of energy, to proof-of-stake, which uses less energy, has been anxiously anticipated by the Ethereum community for weeks. Given the recent rise in network activity, the event that was anticipated on September 15 may now potentially happen earlier.

When the entire terminal difficulty of 58750e14  is attained, the event known as fusion is automatically started. The hash rate exceeded the figure predicted in the initial calculation, reaching 892.23 TH/s. This is why Vitalik Buterin, the inventor of Ethereum, stated yesterday that the merger is most likely to occur between September 13 and 15.

“The merge will take place between September 13-15. What’s happening today is the Bellatrix hard fork, which *prepares* the channel for the merge. Still, it’s important that you update your customers! “

New guidelines for the beacon chain will be added by the Bellatrix Hard Fork (consensus layer). The execution layer is then affected by the Parisian hard fork.

The merger will most likely occur as early as September 14 based on the blockchain’s current hash rate.

Technical Price Benchmarks for Ethereum
The price of ETH/USD drops -7.22% to 1546 dollars as a result of the market’s overall bearish trend.

Yesterday’s daily high was $1617, while today’s closing price was $1590, which is below yesterday’s daily high and the 38.2 percent Fibo retracement. The day’s low for today was $1493, but a surge into the 38.2 percent Fibo retracement ensued.

Expect a test of the resistance at the 50% Fibo retracement of $1455 as long as this level is not successfully broken. Lower than that, there would be further possibility for losses around the $1320 level of the 61.8% Fibo retracement.

The likelihood of a rally towards the 23.6% Fibo retracement of $1757 would only rise if one is able to retake the 38.2% Fibo retracement.

Leave a Reply

LATEST POSTS

What’s going on with the 45% price explosion of XRP ?

The indices had already started to build up in recent weeks to indicate that Ripple had a decent chance of winning the case initiated by...

Vasil’s hardfork is still 8 hours away; how will the ADA respond?

There are only a few hours remaining before the long-anticipated Vasil hardfork advances Cardano one step farther. Future network scalability improvements should be possible thanks to...

Shiba Eternity, a blockchain game, might raise prices.

The Shiba Inu is now less expensive. exactly like the rest of the cryptocurrencies, has decreased recently. Shytoshi Kusama, the company's creator, promised a tweet...

Is Ethereum finally a stock as the SEC gradually tightens its grip ?

Less than a week has passed since the merger, which caused the Ethereum blockchain to switch from proof-of-work to proof-of-stake. Nevertheless, the little period of...

Follow us

0FansLike
3,507FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img
%d bloggers like this: