Ethereum (ETH) Skyrockets 40% in a Week — The ‘Merge’ Lined up for September
- Ethereum 2.0 is set to launch on September 19th.
- Lido Staked Ether (stETH) to speed up Layer-2 integration.
- Ethereum (ETH) is up by a whopping 54% over the last 30 days.
As the crypto world finally sees some sunshine after weeks of deficits, Ethereum (ETH) has set an official date for the ‘Merge’. On September 19th, the Ethereum blockchain will cease to use the PoW (Proof of Work) model, as the top NFT network completes the long awaited switch to PoS (Proof of Stake), significantly reducing the blockchain’s carbon footprint.
Ethereum 2.0 Reaches 13M Tokens
One particular indicator that Ethereum 2.0 is ready to kick off is the milestone of reaching 13 million tokens held in smart deposit contracts. The funds could help the network to run more smoothly after the transition, once the Difficulty Bomb has been taken care of. Furthmore, on-chain analytics company Santiment reports that a pod of 131 whales has joined the network since May.
#Ethereum has recovered quite well in July, up +29% for the month and +14% alone in the past 24 hours. Additionally, there’s an increase in the key 1k to 100k $ETH address tier since early May where 131 new whale addresses have popped up on the network. https://t.co/uGfRQ4dEls pic.twitter.com/ri8MhGIP0o
— Santiment (@santimentfeed) July 17, 2022
In other positive news, Lido Finance elected to cut down on fees and speed up the process of adopting