With less than a month left to the Ethereum Merge update, one of the most important upgrades in the history of Blockchain, investors’ concerns and expectations about prices are increasing.
As cryptocurrency followers know, toin september One of Ethereum’s most serious software updates to date will take place. The Merge The date of this update, called September 15 although it has been determined Proof of Work This system working with (Proof of Work) may cause minor deviations and deviations up to 1 week known to exist.
Despite the crypto money markets having a bad start to 2022, Ethereum price It has nearly doubled in value since July. The main reason behind this rise can be interpreted as the date of the Merge update getting closer. Tried primarily on testnets, this historic update has so far been managed to pass all stages without any problems. last week Goerli Ethereum price within a day after testnet successfully accepts Merge update an increase of around 15% seen.
In addition, there is an increase of approximately 15% for Merge, which is presented as the most important update in the history of blockchain. looks a little weak. Ethereum price is still at its highest level It is down 60% from around $4800. However, this movement on the price should not be considered short-term. Even if there is a short-term buy the expectation, sell the news situation, this big update for the long term has the potential to change many rules in the game.
For example, many DeFi The (Decentralized Finance) application developer may be waiting for the successful integration of Merge to create new trends and formations. after September Speeding up the Ethereum network and reducing transaction fees case, the market new trends and we may be able to see developer applications.
As another perspective, those who are currently bleeding out in terms of volume NFT market on, after Ethereum transaction fees drastically reduced new collections and inflows We seem to be able to see. Short-term investors after Merge update even though it can sell for profitConsidering the long-term, this revolutionary innovation in the Ethereum blockchain may open the door to more use of the network and bring a rally. At least after a few months, we can see a future where Ethereum is involved in more use cases than ever before.