Ethereum rises ahead of the Merge expected to arrive in September – The Average Joe

    Ethereum rises ahead of the Merge expected to arrive in September

    Victor Lei — Head of Research

    July 18, 2022

    July 18, 2022

    Ethereum ($ETH) is up nearly 50% in the past month, outperforming Bitcoin ($BTC), up 15%. Investors are looking past the bankruptcies and instead focusing on the upcoming Merge…

    What’s the big deal? We have a final timeline for the Merge — the highly anticipated upgrade to the Ethereum blockchain network.

    • In July, Ethereum’s foundation member Tim Beiko suggested the week of September 19 as the Merge date — but has repeatedly noted that the date could change.
    • Ethereum developers completed a test merge earlier this month — with one final test expected on August 11.

    Whales have accumulated more Ethereum ahead of the Merge — bringing their $ETH balance to all-time highs. Here’s what Signum Managing Partner John Ng Pangilinan thinks (CoinDesk):

    • Inflation and bankruptcies are priced in, and markets are focusing on the positives.
    • He expects regulations to come for the industry — but doesn’t see it “dampening the markets.”

    Mood killer: The stock market is still plagued by the interest rate and inflation story — seen as a barrier to a bigger rebound. The same issues are impacting the crypto market — except speculators are looking to the Merge to bring crypto prices out of their slump.

    What happened in the last Ethereum upgrade?

    • $ETH jumped 60% in the three weeks leading up to the more minor London hard fork upgrade last August.
    • Prices dipped post-upgrade but continued making new highs before peaking in November.

    Inflation’s direction will likely impact prices in the coming months — but positive news in the market (i.e., inflation falling) could help send crypto prices higher.

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