Amid high anticipation for the upcoming Ethereum network upgrade, The Merge is all set to happen in next few days. Already, the Ethereum Foundation had announced the shutdown of Ethereum Merge testnet Kiln during next week. The developers indicated that the potential timeline could be anywhere between September 13-15. In this context, a section of the crypto community is expecting price rise in assets post Merge.
The Ethereum Merge will mark the network’s transition from a proof of work consensus to the proof of stake mechanism. The upgrade is expected to reduce the operational energy costs to a large extent.
Will Ethereum Merge Fail?
Meanwhile, experts predict that there are less chances of the Ethereum Merge failure. The Bellatrix upgrade was recently executed on the Beacon chain, which is the final upgrade before The Merge. In fact, crypto influencer Ran Neuner said there are negligible chances of The Merge failing totally. However, he said there are 10% chances that the transition could face hurdles.
“There is 90% chance that The Merge goes off without any hiccups, 10% chance of potential hiccups. There is a negligible chance that The Ethereum Merge could be a failure.”
The Merge Impact On Prices
Regardless of the failure or success of The Merge, the Ethereum price is likely to still see a dip in price. Ethereum cofounder Vitalik Buterin had already warned that it could take a long time for The Merge to have an impact on price. He said that The Ethereum Merge could take as long as six to eight months for pricing in. There could be a waiting period before the actual price action under the right set of conditions, he explained.
After the successful execution of the Bellatrix upgrade, Ethereum (ETH) price responded positively. In the last one week, the cryptocurrency rose by over 10%. As of writing, ETH price stands at $1,722.27, up 0.18% in the last 24 hours, as per price tracking platform CoinMarketCap.