Blockchain Analytics Platform, IntoTheBlock, Released new report good that opinion Possible dates for the Ethereum merge are September 14 and 15. According to this, if the hashrate on the Ethereum mainnet network holds around 844 TH/s on average, the expected merger date would be September 15th at 12:00 UTC.
However, with the 30-day TH/s average, as can be seen from the series, the merger is more likely to fall on September 14th.
Update scheduled for mid-September arrives in the form of sequel to issue a first confirmation By Ethereum [ETH] Foundations About the Bellatrix Upgrade. The Bellatrix upgrade constitutes one of the remaining two steps for Ethereum’s transition to a proof-of-stake (PoS) consensus mechanism. The upgrade occurred on September 6th and occurred at around 11:34:47 UTC at the 144896 epoch on the beacon chain.
According to the Ethereum Foundation, the Paris upgrade is expected to begin with a Terminal Total Difficulty (TTD) of 587500000000000000000000000, which is expected to take place between 10 September and 20 September 2022.
what to expect
According to the report, the general consensus remains that the merge will be successful after a series of multiple testnet merges. IntoTheBlock found that ETH netflows from exchanges have been negative in the past month to confirm this position.
According to the analytics platform, this indicates that investors have started accumulating alts or are buying back significantly after the fall in prices last month.
In addition, IntoTheBlock noted that when the fork occurs after Merge, all ETH coins held in the wallet address can claim new forked ETHW tokens in the ratio of 1:1.
This will open up many trading and arbitrage opportunities. IntoTheBlock also believes that this has prompted several large holders of ETH coins to increase their stake over the past month.
Additionally, the total number of addresses between 10 and 10,000 ETH has increased by 1.68% during that period, in anticipation of an eventual fork.
Furthermore, due to the increase in demand for holding ETH, lending platforms such as Ave and Compound have restricted borrowing and hiked interest rates to prevent abuse of their platforms. Rising demand prior to the merge has also led to a drop in ETH liquidity in the liquidity pool.
miners are in trouble
IntoTheBlock believed that existing miners on the Ethereum network would suffer the most from the merge. This is because they have invested heavily in their mining hardware on the PoW network.
Miner outflows hit a three-month high, and if the forked ETHPoW chain fails to pick up, an increase in the sale of a large amount of Miner Holdings is imminent.
According to Chainalysis,
“After the merge, hashrate dedicated to Ethereum mining will either disappear or spread to other blockchains. However, don’t expect that hashrate to be transferred to Bitcoin. Why? The tools used to mine Ethereum Won’t cut it for bitcoin.”