The Ethereum merge is set for mid-September when the total terminal difficulty hits 58750000000000000000000.
- Since the release of the Beacon Chain in December of 2020, Ethereum users have slowly been staking their Ether in preparation for the merge from a proof-of-work consensus to proof-of-stake.
- September 1st 2021 saw a total of 7,139,900 ETH staked compared to exactly a year later where there is 13,392,751 ETH being staked. Year-on-year this is an 88% increase, almost double the amount of Ether staked. There is an average of around 15,000 ETH being deposited daily within the past months leading up to the merge.
- Leading up to the merge there has been misconceptions with the actual goal of it. Mainly, it will not lower gas fees as its “a change of consensus mechanism, not an expansion of network capacity, and will not result in lower gas fees,” stated Ethereum in a recent publishing.
- It also stands that all of this staked ETH will not hit the market at once and crash Ethereum. There are exit rate limits on the chain to prevent this from happening and crashing the price. Currently Ethereum is trading at US$1,551.
See Related: The Misconceptions With The Ethereum Merge
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