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

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

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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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Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].