Capital Markets • July 16, 2022, 1:08PM EDT

'Merge' rally pushes Ethereum almost to $1,400

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The Block

Quick Take

  • Ether was trading up about 10% this morning
  • The bullish momentum spilled over from Friday after an Ethereum dev release a timeline for the long-awaited “merge.”

The price of Ether was trading in the green this morning, continuing a rally that kicked off after the release of a soft timeline for the underlying Ethereum blockchain's transition to proof-of-stake from proof-of-work. 

At last check, the price of Ether was trading up about 10% at $1,351, according to data from TradingView. 

On Friday, Ethereum Foundation's Tim Beiko projected that the so-called merge — the transition to proof-of-stake — may take place in mid-September. The September projection was one of the updates from a developers' call focusing on the merge, which would alter the crypto's consensus mechanism. 

That timeline is subject to change.


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