How Ethereum (ETH) Price is Responding Leading Up To The Merge?
Updates on the Ethereum price leading up to ‘The Merge’! The news on the upcoming event, ‘The Merge’, does not seem to stop anytime soon as it affects Ethereum (ETH) in the market.
‘The Merge’ in September
Next month, one of the most anticipated events in the industry, called ‘The Merge’, will happen. To add the information, ‘The Merge’ is an Ethereum upgrade from Proof-of-Work (PoW) to Proof-of-Stake (PoS). The community may also be familiar with the concept of Ethereum 2.0, the new version of Ethereum that uses PoS. Recently, the community was buzzing that ‘The Merge’ would happen sooner than the initial predicted date in September.
Related: Ethereum Merge To Happen Sooner Than Expected, Here Are The Details!
The Ethereum (ETH) Price
Following the event in September, Ethereum (ETH) has been showing some changes. On Friday, CoinMarketCap reported that ETH reached approximately $2,000. Not long before that, a day after the success of The Goerli Testnet Merge, the Ethereum price increased by 14% and a trading price around $1,800. At the time of writing, the Ethereum (ETH) price is $1,954. There are predictions in the community that the ETH price will increase to $2,200 following ‘The Merge’.
Related: Ethereum’s Goerli Testnet Merge Success, Here’s What’s Coming Next!
These changes in ETH hint that the community has been showing their enthusiasm for the upcoming event in September by buying ETH. Also, people have been displaying their predictions about the ETH price leading up to ‘The Merge’ on social media. Some people even made a poll to predict whether it would go up or down.
What is your #ETH price prediction before the merge happens?
— Thomas Kralow (@TKralow) August 12, 2022
Following the predictions that the ETH price will reach $2,200, people are excited to see more updates in the next few weeks.
Related: Mike Novogratz: Ethereum Will Rise To $2,200 Ahead Of The Merge
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