The Goerli testnet was effectively merged towards the proof-of-stake (PoS) network, marking the ultimate step before Ethereum’s mainnet transition. The triumphant final testnet merger means the mainnet transition slated for Sept. 19 may go as scheduled.
Goerli may be the third and final testnet after Ropsten and Sepolia which makes Ethereum’s final wedding rehearsal before its official transition towards the PoS network.
BREAKING:
The Goerli Testnet has activated Evidence of Stake
Mainnet™
— bankless.eth (@BanklessHQ) August 11, 2022
The PoS Merge is regarded as probably the most significant updates for that Ethereum blockchain since its beginning, and also the bullish sentiment behind the big event has began to mirror around the altcoin’s cost. The native token Ether (ETH) has greater than bending its cost since bottoming at $885 in June 2022.
ETH cost surged over $1,919 on Thursday together with all of those other crypto market following the government released consumer cost index data, which switched to be less than expected.
ETH outperformed Bitcoin (BTC) when it comes to daily gains registering a dual-digit surge. Data from crypto analytic firm Santiment says the cost momentum was helped by whale transactions worth $100,000 or even more. The rise in whale transactions comes among an increasing accumulation of whales.
ETH also registered a current uptick in capital inflows into Ethereum-based institutional investment funds. These institutional products attracted $16.3 million from investors within the week ending August. 5. Similar funds for Bitcoin observed capital outflows worth $8.5 million within the same period, suggesting an increasing bullish sentiment among institutional investors.
Related: 3 signs Ethereum cost is on the right track toward $2.5K by September
Using the mainnet merger approximately per month away, ETH cost is visiting a bullish momentum with leading crypto platforms putting how much they weigh behind the Merge. The marketplace appears to become deploying “buy the rumor sell the news” in which the ETH cost has began to surge awaiting a effective transition and may visit a substantial cost correction following the upgrade in September when traders potentially start to “sell this news.”
