ETHEREUM'S UPCOMING MERGE COULD BE BULLISH FOR CRYPTO
Ethereum's upcoming merge could be a major boost to make investors believe in crypto again.
The Ethereum merge is one of the five major upgrades that are planned or a roadmap for Ethereum in the upcoming future. As per Vitalik Buterin's presentation at the 5th edition of the EthCC Conference in Paris, he discussed the future plans for Ethereum network. This major upgrade of five phases will allow the Ethereum network to process 100,000 transactions per second, will reduce the gas fees, increase scalability and will also be helpful from the security infrastructure point of view.
The whole process is expected to complete at the earliest by 2026. The first phase "Merge" is expected to happen around mid-september this year. This will make Ethereum's network to shift from Proof of Work (PoW) to Proof of Stake (PoS) which is more energy efficient as compared to PoW. This will allow it's mechanism to make it a deflationary asset in the long run, thus pumping its value much higher.
At the time of writing this article, Ethereum is trading at $1,800 with a jump of 6.16% in the last 24 hours and has regained a market cap of $220B as per CoinMarketCap.
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