Ethereum is about to experience its biggest week since its inception. Its big 'merge' is about to be completed, and investors are speculated to witness a big price movement as a result. But to top it all off, the present economic factors have also been dwindling the prices of ETH. Currently, at the time of writing this article, the Ethereum price is revolving around the US$1,500 resistance. The major network upgrade will transform the ETH network from proof-of-work to proof-of-stake.
The upgrade aims to address concerns about its environmental impact and dramatically improve its transaction speed, among other improvements. Experts have also said that the merge has the potential to boost the value of Ethereum, which like BTC is facing several ongoing challenges amid broader economic uncertainties. So, Ethereum prices are definitely expected to rise in the upcoming days. But its volatility will continue to persist. The merge will not only aid the price movements of Ethereum, but it will also help the broader cryptocurrency market to surge in value. This is why the Ethereum Merge is basically a landmark event in the history of the crypto market.
The cryptocurrency market as a whole has been driven to a complete slump due to the various macroeconomic conditions. But if the upgrade is successfully implemented on the Ethereum testnets, it will aid the prices of all other cryptocurrencies, driving them upwards. Besides, in the coming months, the scalability improvements in Ether might inspire other crypto developers driving them to transform the other networks into more sustainable and efficient ones.
After years of being the top smart contract blockchain network, Ethereum will not only remain the top altcoin in the market, but it might also become the largest cryptocurrency in the market. If ETH topples BTC, it will definitely change all the dynamics of cryptocurrency trading and price movements.
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