Investors Attention, Ethereum Merge Date May Change


Investors Attention, Ethereum Merge Date May Change

As the average hash rate on the Ethereum blockchain has exceeded 900 TH’s, the expected date of September 15 Ethereum Mergemay occur at an earlier date. The unexpected increase in the hash rate may be a result of miners wanting to make more profit before moving from Ethereum proof-of-work to proof-of-stake.

Ethereum’s developers and users are preparing for the release of Merge on September 15. But the miners seem to have other plans. Miners before the merger Ethereum While competing to mine (ETH), the average hashrate rose above 900 TH/s. This could result in Consolidation occurring earlier than September 15.

Investors Attention, Ethereum Merge Date May Change

According to OkLink “Ethereum The Merge Countdown” data, Merge preparation is now 98.21% complete, terminal total difficulty (TTD) is 57691088811453340461380. The current hash rate is over 887 TH/s.

Ethereum co-founder Vitalic ButerineAs explained by Merger, “the exact date depends on the hash rate.” Also, Merge will be triggered at 5875000000000000000000000 TTD. The average hash rate of 872.2 TH/s is interpreted as a sufficient date to trigger the Merge on September 15th.

However, after the recent increase in the network hashrate, the expected merger could happen earlier than September 15. In fact, if the average hashrate continues to be above 900 TH/s, the Merger could be triggered on September 11. Current hash rate levels pave the way for the consolidation to take place between September 12-14.

According to the website WhenIsTheMerge, the estimated date is September 14.

As long as the Ethereum Merge happens after the Bellatrix upgrade on the Beacon Chain on September 6, there shouldn’t be any issues. The merge will be considered complete 15 minutes after the Paris upgrade. The Paris upgrade will be implemented on the Mainnet.

Ethereum (ETH) price will likely depreciate after the Merge due to the EIP-1559 write mechanism. Furthermore, Vitalik Buterin had previously confirmed that the ETH price will be deflationary after the Merger and will start to rise under certain conditions.

It looks like Ethereum traders are planning to sell their ETH holdings before the Merger. In fact, the ETH price has already started to drop before the Merger as whales sell their ETH holdings. Currently, ETH price is down about 3% in the last 24 hours to trade above the $1500 level. However, experts suggest that the price risks are down to $1000.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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