Ethereum ETH / USD is one of the largest cryptocurrency networks and blockchain platforms that has gained a reputation due to the fact that it was one of the first implementations of smart contracts.
This ultimately paved the way for decentralized finance (DeFi), decentralized applications (dApps), and non-fungible tokens (NFTs).
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Merger of Ropsten Proof of Stake as a catalyst for growth
Through the Ethereum merge preparation process scheduled for late 2022, developers have activated the merge on the Ropsten test network.
Specifically, Ropsten was announced on June 3, 2022, but the merger took place on June 8, 2022.
In fact, according to Glassnode dataThe bet value is over $ 22.78 billion, which is ready for the next mainnet merge into Proof of Stake (PoS).
This is equivalent to a total of 1280 million ETH, or 10.78% of the total supply.
Ropsten’s Proof-of-Work (PoW) chain has been integrated with the Proof-of-Stake (PoS) beacon chain by combining the code into one.
This merge was important because it checked if the client software that was using the Ethereum node ran without glitches.
Client software teams from the Netherlands, Erigon, Beth, Tech, Prism, Roadster and Lighthouse also participated in the merger.
The same process will occur on the Ethereum Mainnet in late 2022. However, this date has not yet been set.
However, this merge serves as the main practice session when it comes to the final mainnet merge. This also confirms that Ethereum will move from PoW to PoS.
Do I need to buy Ethereum (ETH)?
On June 9, 2022, the value of Ethereum (ETH) was $ 1,809.87.
To get a better view of what value points this is for ETH cryptocurrencies, we will look at the highest value points so far and look at their performance in May.
Ethereum (ETH) reached a record high on November 10, 2021 when tokens reached a value of $ 4,878.26.
Looking at last month’s performance, Ethereum had a high of $ 2,951.12 on May 4th, but a low of $ 1,724.92 on May 28th.
Here you can see that the Ethereum (ETH) value has decreased by $ 1,226.2.
However, Ethereum is beginning to recover, and the confidence gained from this successful merger is expected to bring ETH to $ 2,200 by the end of June 2022.
Where to buy now
To invest easily and easily, you need a reliable, proven, low-cost broker. The following brokers are highly regarded, recognized worldwide and safe to use.
- Etro, Trusted by more than 13 million users worldwide. Register here>
- Capital.com, Simple, easy to use and regulated. Register here>
* In some EU countries and the United Kingdom, investment in crypto assets is not regulated. There is no consumer protection. Your capital is at stake.