Work continues for the Ethereum Merge, which is expected to take place in September. Yesterday, with the release of the US July 2022 inflation data and the realization of the Goerli test, the Ethereum price started to rise even more.
Ethereum “Merge”, the leading altcoin in the cryptocurrency industry, has completed its final Test Net before its merger. The Goerli Test Net, which was successful as expected without any problems, seems to have accelerated the rise in the crypto money industry.
Merge with Ethereum's mainnet, the Proof of Stake Beacon Chain, is scheduled to happen next month. This process began with the completion of the first testnet Ropsten merger in early June. At the beginning of July, the second testnet was switched to Sepolia. Finally, the last work before Ethereum Merge Goerli has been left behind.
The returns of the updates and the US inflation data announced yesterday were reflected in Ethereum as an increase. While Ropsten, Sepolia and Goerli increased confidence in Ethereum, inflation data announced below expectations also affected the rise. According to CoinGecko data, the Ethereum (ETH) price has increased by more than 13 percent in the last 24 hours of these events.
The success of Ethereum's Goerli Test Net seems to have spread to the entire cryptocurrency industry. Even Bitcoin, the leading cryptocurrency, experienced a significant rise and rose to $ 24,500. ETH, which is expected to continue to rise up to $ 2300 in the following hours, can make the crypto money industry rise. While many altcoins have added value in the last hours thanks to Ethereum, it is estimated that Bitcoin will target 30 thousand dollars in the coming days.
Numerous key developers and figures in the Ethereum ecosystem share their enthusiasm for the successful merger. Ethereum developer Marius van der Wijden noted that there was some confusion in the network due to the two different terminal blocks and the large number of unupdated nodes, which slowed the process down a bit, but he said things still look pretty good. Once Ethereum Merge is complete, the next major milestone will be the multi-stage sharding upgrade, which will “make the distribution of data storage requirements, aggregations even cheaper, and nodes easier to operate”.