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

By Frank Chaparro

Markets•July 16, 2022, 1:08PM EDT

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

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.