Ethereum (Ethereum/USD) is the second largest cryptocurrency by market capitalization and one of the largest blockchain networks for decentralized application (dApp) development.
In fact, Ethereum has become home to some of the most popular and most valuable non-fungible tokens (NFTs) minted using its technology and smart contracts.
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All of this contributes to the company’s overall growth. However, Ethereum is undergoing one of the biggest network upgrades to date in the form of a “merge.”
“The Merge” and its potential to increase the value of the ETH cryptocurrency
August 24, 2022, on the Ethereum Foundation Blog “Notice of Mainnet Integration” Article.
The article claims that “The Merge” must first be activated on Beacon Chain using the Bellatrix upgrade.
Following this, the Proof-of-Work (PoW) chain transitions to Proof-of-Stake (PoS) once a certain total difficulty value is reached.
With that in mind, according to the blog post, the Bellatrix upgrade is scheduled for epoch 144896 of the beacon chain on September 6, 2022 at 11:34:47 UTC.
In addition to this, the total difficulty value for terminals that trigger The Merge is 5875000000000000000000, expected between September 10th and September 20th, 2022.
The Kiln testnet will also be decommissioned, with the operator shutting down on September 6, 2022.
Let’s find out how far Ethereum can rise before “The Merge” happens, and how this will affect its overall value.
Should I buy Ethereum (ETH)?
Ethereum (ETH) was worth $1,708.70 on August 25, 2022.
The all-time high for the Ethereum (ETH) cryptocurrency was when it reached $4,878.26 on November 10, 2021. Here you can see that at the all-time high, the cryptocurrency was worth $3,169.56, or 185% higher.
Looking at the overall July performance, we can see that Ethereum (ETH) hit a new low on July 13th at $1,026.84.
The all-time high was $1,756.23 on July 28th. Here you can see that value increased by $729.39 or 71%.
With this in mind, we can expect the value of the Ethereum (ETH) cryptocurrency to rise to $1,900 by the end of August 2022. buy ethereum to get the most out of it.
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*Investing in crypto assets is not regulated in some EU countries and the UK. No consumer protection. Your capital is at risk.