The cryptocurrency market is only a month away from a significant rise expected since 2015. The update, scheduled for September 14, will be one of the biggest days in cryptocurrency history. Here is the importance of this history and the expectations of the experts…
September 14 will be the biggest day of cryptocurrency investment
Currently, as officially announced, the Ethereum merge will take place in September. More precisely, an Ethereum developer has calculated that the project block height will be reached on September 14. However, this date may vary.
Finally back from vacation. Ran some computation to confirm the TTD for mainnet.
Projected Date of TTD hit: 2022-09-14 22:57:34 +0200 CEST
LGTM! Big thanks to @TMIYChao for doing the initial computation pic.twitter.com/vRCk3lXdNM
— MariusVanDerWijden (@vdWijden) August 15, 2022
What will Merge change on the Ethereum network?
Merge also solidifies Ethereum as one of the most critical building blocks for the future internet. With the update, the Ethereum network will become much more energy efficient than before. Thus, it will become a suitable mechanism for companies with ESG requirements.
PoS Ethereum reduces Ethereum emissions by 90% while silencing the false narrative that PoW is bad for the environment. Ethereum’s inflation is currently at 4.3%. This will drop to roughly 0.4% after the merge, with major fiat currencies currently recording 40-year highs.
Merge fact of the day:
Current ETH issuance is 4.3% annually. After the Merge issuance will be reduced by 90% to ~0.4%.
To put this in perspective, this will be the lowest issuance of any major blockchain. Solana is currently ~9% and Avalanche is ~26%.
— Crypto-Gucci.eth ᵍᵐ🦇🔊 (@CryptoGucci) August 18, 2022
Expectations of cryptocurrency experts
Less than a month away from the update, it is on the agenda of many analysts in the market. Ethereum is also outperforming Bitcoin, climbing 62% from its local low in July. Popular cryptocurrency analyst Lark Davis emphasized the importance of the merge in a few sentences:
Ethereum merge is bigger and more important event than Bitcoin halving
The #ethereum merge is a bigger and more important event than the #bitcoin halving!
— Lark Davis (@TheCryptoLark) August 13, 2022
Another popular cryptocurrency analyst highlighted the portfolio value of ETH after the merge. Benjamin Cowen, with 600,000 followers, summarizes his expectations as follows:
Ethereum was extremely impressive – to be honest, I didn’t think it would hit 0.08 again this year, but here we are. Merge is still a few weeks away. Let us remind you once again why ETH is such an important part of a portfolio.
#Ethereum has been extremely impressive – honestly I did not think it would reach 0.08 again this year, but here we are. Merge still a few weeks away. Just yet another reminder why #ETH is such an important part of a portfolio
— Benjamin Cowen (@intocryptoverse) August 13, 2022
triple halving
Once the merge is successfully completed, the new PoS version of Ethereum will have gone through what is commonly known as the ‘triple halving’. The production of Bitcoin halves roughly every four years, causing Bitcoin issuance to be cut in half. Its influence is generally believed to be the start of the next crypto bull run.
When Ethereum switches to PoS, it will issue 90% less ETH in one block. In PoW, Ethereum will generate 13,000 ETH per day, while PoS will only mint 1,600 per day.
4/14
What could this mean for ETH price?
It could be positive long term, due to:
– ETH issuance will drop by 90% equivalent to a
BTC Triple Halving
– More acceptable for big companies to invest/build
on the network
– Miners sell pressure due to rising energy costs— RR2Capital (@RR2Capital) August 18, 2022
