Merge Hype Reclaims $2,000 for Ethereum!

In anticipation of its Proof-of-Stake update, Ethereum exceeded $2,000 early Saturday.

Ethereum developers targeted "the Merge" launch for mid-September.

On Merge, ETH breaks $2,000

Merge trade is booming.

ETH broke $2,000 for the first time since May.

According to CoinGecko, the second-largest cryptocurrency is trading barely above a psychological milestone. It gained 16% in a week.

ETH is gained over 100% from its June low after the Three Arrows Capital crash.

ETH has outperformed numerous assets thanks to anticipation for its "Merge" event.

Ethereum's long-delayed upgrade to Proof-of-Stake is likely to be completed in the coming weeks.

Ethereum's Proof-of-Work execution layer will "merge" with its Proof-of-Stake consensus layer.

Then, validators staking ETH will verify transactions instead of miners.

The Ethereum community supports "The Merge" because to the changes it will bring, such as a 90% reduction in ETH issuance (since the network won't need to pay miners) and a 99.9% reduction in energy consumption.

In recent weeks, traders have been using the "Merge trade" to capitalize on the update's popularity.

Lido and RocketPool have risen alongside ETH.

Ethereum Classic has done successfully because it uses Proof-of-Work; it could become a hub for miners who quit Ethereum.

Proof-of-Work enthusiasts propose to fork Ethereum to preserve a new mining ecosystem. Justin Sun supports the concept.

ETH extended its climb this week after Ethereum's final Goerli testnet release.

Ethereum Foundation developers informally decided to launch the upgrade when the network reaches 58750000000000000000000, after which Proof-of-Stake blocks will be mined.

Between September 15 and 16 is predicted.