The third and the final article about The Merge will sum up the two previous and conclude the possibilities of the bull run right after the transition is made. 🐂
What is the Merge?
The Merge is the first stage of Ethereum’s transition from Proof-of-Work to Proof-of-Stake and is considered the main crypto market event of 2022. The Merge is scheduled for 15-16 September. 🥳
The closer - the better
We were quite shocked about Ethereum not only sticking with the launch date, but also rescheduling it to 3 days earlier. That with the successful Goerli test-net transition to PoS have made the rates of Ethereum trespass the mark of 2000$ for the first time since may and that is just the beginning. 📈
Market participants seem to be very interested in the update. ETH2 is a consensus level depositing contract and the amount of locked coins is quickly and what is most important stably increasing. The indicator has reached and passed the point of 13.3M ETH - during July it has grown by 1.9% with 50% increase since the beginning of the year. 🙌
Another indicator we can see is the 32+ ETH value locked addresses number increase. May was the starting point for an even faster growth. That clearly shows how interested the users are in staking Ethereum.
Another sign of investors being focused on Ethereum is volatility - the spread is significantly higher than with Bitcoin. 🆙
The Huobi Research team is sure about Ethereum’s soon deflation, the thesis is proven by Ultrasound Money research. According to their calculations Ethereum will reach a peak of 120,4M available tokens with the subsequent token number decrease due to the EIP-1559 burning mechanism. After the transition annual token number increase will go from 4.3% all the way down to 0.3%. 🤯
Will ETHPoW/ETHW survive?
The planned mining hardfork put many people into doubt - ETC team were no exception. They questioned Chandler Guo about the enormous amount of work, ETHPoW team still has to do in such a short term with a direct letter. They suggested miners change the net to ETC, which has already been developed and continue their work with it. ⛏
Guo and ETHW supporters replied immediately and are desperate about the fork. According to them, a dedicated developer team has successfully disabled the difficulty and are currently working with exchanges and wallet providers all around the world. 🌍
So, it seems like we will be getting three Ethereum nets - ETH 2.0, ETC and ETHW.
Interest growing, miners satisfied, release on time - everything is going the best way possible, so we all just have to wait. ⏳
Stay tuned 📻