The leading alt, Ethereum, will welcome the highly-awaited Merge in September. The event would occur in two phases:
The Bellatrix upgrade on ETH’s PoS (proof-of-stake) Beacon chain, then the Paris upgrade. However, there’s something investors need to know beforehand.
Ethereum’s Vitalik Buterin told node developers to update customers to prepare for the September 6 update on Beacon before the Merge. It would launch between September 10 and 20. However, the Beacon Chain would come on September 6.
The Merge represents the connection of the present execution ETH layer with the new PoS consensus, the Beacon Chain. It would alleviate energy-intensive mining while securing the platform using staked Ethereum.
That’s a lucrative step in achieving the ETH vision of increased security, sustainability, and scalability. The Bellatrix update means the Beacon chain upgrade could be underway.
What for Investors
Investors in the ETH network have shown their support ahead of the upgrade. That’s especially the case for institutional investors. These categories accumulated the coin, capitalizing on the opportunity of discounted prices.
CME Group Company launched new euro-related ETH futures contracts amid impressive trading volumes within the derivative markets. First unveiled on August 4, 2022, the new ETH futures contracts arrived at 50 Ether.
Moreover, on August 18, the CME Group confirmed its upcoming Ethereum options. Meantime, micro-sized ETH futures contracts increased in expectations of the awaited Merge.
Generally, these points highlight increased demand for the leading alt. A renowned crypto analyst has also shared similar views.
Michael van de Poppe presented Ethereum’s technical analysis following the recent price actions. The analysts trust the altcoin can surge past the $2K due to the transition.
Nevertheless, Bloomberg reports indicated that investors remained divided about the outcome. For example, most retail investors anticipate price retracement after the Merge.
The crypto market endured bearish tendencies during this publication. The cumulative crypto market value dropped 0.67% within the past day to $988.69 billion.
Also, Bitcoin struggled beyond the $20K mark, trading at $20,283 during this publication. The upside path remains foggy as bears show their superiority.
Stay tuned for more crypto news.