The long-awaited Ethereum Network Merge upgrade successfully completed in the early hours of Thursday, September 15, 2022. The timing matched the previous predictions of Ethereum developers depending on the Ethereum hashrate. The Merge update creates a more energy-efficient blockchain network as Ethereum has moved from a proof-of-work (PoW) blockchain network to a proof-of-stake (PoS) network. However, the price of Ether (ETH) dropped sharply after the Merge and by the early hours of Friday it was trading at $1,474.20, down around 7.93% from the price level. from Thursday. However, analysts expect the price to rise in the coming days as investors unwind the hedges they bought in advance at launch. So far, no issues have been reported with Merge; something that is likely to build confidence among investors and possibly drive prices higher. According to Jon Charbonneau, a researcher at cryptocurrency research firm Delphi Digital, the Merge marks the “biggest cryptocurrency event since the creation of bitcoin and Ethereum. Assuming all goes well, attention will turn to future Ethereum updates.” To help investors and traders buy Ethereum token after Merge, Bitcoin Guide has prepared this short guide on the best places to buy Ethereum. Keep reading to find out more.
Table of Contents
Where to buy Ethereum (ETH)
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What is Ethereum?
Ethereum was the second blockchain network to be developed after Bitcoin, which was the first blockchain to be developed. Its native Ether (ETH) token/cryptocurrency is the second largest cryptocurrency by market cap. At their launch, Bitcoin and Ethereum were designed to use a PoW consensus mechanism in confirming transactions within the networks. However, the PoW engine has proven to consume a lot of energy negatively impacting the environment. Ethereum has embarked on the move to a PoS mechanism that consumes less energy and is more efficient than PoW. Ethereum successfully completed the migration to a PoS system via Merge Upgrade on Thursday, September 15th. Following the Ethereum Merge, a new hype is underway targeting Bitcoin’s energy usage because of its proof-of-work (PoW) consensus mechanism.
Should I buy ETH today?
Suppose you want to invest in a popular cryptocurrency that is expected to increase considerably in the coming days. In this case, ETH might be a good choice, especially after successful Merge upgrade. However, the cryptocurrency market is extremely volatile and you should invest with caution.
Ethereum currency price prediction
Despite the price drop following the Merge, analysts expect the Ethereum price to rise possibly above $2K in the coming days as investors unwind their hedging positions as there are currently no advance purchases recorded after the Merge. Merge update.
Social Media Trends $ETH
“The merge will reduce worldwide electricity consumption by 0.2%” – @drakefjustin
— vitalik.eth (@VitalikButerin) September 15, 2022