Ethereum The wait for its upcoming update continues.
Experts See Very Low Chances of Ethereum Update Failed
The Merge update will happen in the next few days. Ethereum developers seem to have completed their preparations.
ETH Foundation for next week ETH Merge testnet announced that Kiln would be shutting down.
The developers stated that the update could happen any day between September 13-15.
A part of the crypto industry is waiting for upward movements in ETH price after the update.
The Merge update is expected to drastically reduce the energy costs of the ETH network.
On the other hand, experts also expressed their views on the possibility of the Merge update failing.
In general, they predicted that the update was very unlikely to fail.
The Bellatrix upgrade has recently been performed on the Beacon chain. This was the last upgrade before the update.
Crypto expert Ran Neuner said that the chances of Merge failing are next to none. However, the transition He stated that the probability of encountering obstacles is 10%.
Ethereum co-founder Vitalik Buterin warned that it could take a long time for Merge to have an impact on the price.
He said that the effect of the ETH update on the ETH price could take up to six to eight months.
Therefore, he explained that under favorable conditions, there may be a waiting period before the actual price action.
On the other hand, the ETH price reacted positively after the successful Bellatrix upgrade prior to the Merge update. ETH had increased by over 10% in the past week.
With the full realization of Merge and the transition to the PoS system, it is possible to see a price increase as in previous upgrades. However, taking into account the possibility of errors in the network, it is useful to shape the investors accordingly.
*Not investment advice.
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