Ethereum Merge

Circle, the issuer of USDC — the largest dollar-backed stablecoin issued on Ethereum blockchain with a market capitalization of more than $45 billion — ...

When Ethereum Classic and Ethereum went through a hard fork — a foundational event that triggers a crypto protocol to splinter into two or more blockchains — in 2016, developers for both parties were reluctant to alter their respective identification mechanisms. DeFi projects employing USDC for collateral, as such, ought to have virtually zero value on the PoW chain. “With its staking yields, it will generate an infinitely scalable, long-term source of revenue for digital asset institutions, lenders and exchanges.” “Uniswap doesn’t require oracles,” Aggarwal said. “The exact time will be announced 1 hour before launch with a countdown timer and everything including final code, binaries, config files, nodes info, RPC, explorer, etc. [preparing to fork](https://twitter.com/EthereumPoW/status/1569427804764405761) the protocol recently [tweeted](https://twitter.com/EthereumPoW/status/1569428021437935617?s=20) “ETHW mainnet will happen within 24 hours after the Merge.”

The Ethereum Merge is the official merging of Ethereum's proof-of-work blockchain to its new proof-of-stake Beacon Chain, shifting the world's second-most ...

Whether you're ready or not, the Ethereum Merge is set to complete on 15 September 2022. From that moment, Ethereum switches to proof of stake, and history is made. [join an Ethereum staking pool](https://www.makeuseof.com/best-places-to-stake-ethereum/), which is what the majority of people will do. As with all things in life, nothing is 100 percent certain, and this applies to the Ethereum Merge. If you're already holding Ethereum in a wallet, you just need to sit back and wait for the Merge to complete. When it hits that figure, the Ethereum 2.0 Merge will proceed. Of course, that hasn't stopped traders from taking out long and short positions against Ethereum's prospective price, but with Ethereum 2.0 being such a shift from its existing blockchain structure, the outcome is unclear. Those who stake a whole 32 ETH become network validators, helping to run and secure the Ethereum network by processing transactions. After the switch to proof of stake, the new Ethereum Beacon Chain will consume 99.9% less energy. No, Ethereum 2.0 is still Ethereum. Energy consumption isn't the only issue Ethereum 2.0 aims to solve. [Proof-of-work](https://www.makeuseof.com/proof-of-work-vs-proof-of-stake-which-is-better/) requires crypto miners to provide phenomenal amounts of computational power to match the complex hashes (an alphanumeric string) that link each block in the Ethereum blockchain.

The Merge will see the second biggest blockchain, ethereum, adopt a proof-of-stake model. It's estimated to reduce the blockchain's energy use by over 99%.

Critics of ethereum -- typically bitcoin enthusiasts -- compare the merge to changing the engine of an airplane in the middle of a passenger flight. "There are a lot of tech companies that have openly said, 'we are not going to do anything until after the Merge.'" Whereas a bad actor needs 51% of a network's power to overrun a proof-of-work system, they'd need 51% of the total staked ether to overrun the proof-of-stake system. Charbonneau reckons it could be safer because of a function called "slashing" – in essence, validators can have their staked ether burned, and their network access revoked, if they're found to have acted maliciously. In the run-up to the Merge, ethereum developers have been stress testing the new blockchain by running data and transactions through it on various ethereum testnets. "From speaking to ethereum developers, they've felt confident that had proof-of-work mining been, say, banned overnight, they could do the Merge even months ago and it would work," Charbonneau said. The network is made up of hundreds of thousands of computers around the world, meaning bad guys would need to control 51% of the power in this vast mining pool. Other times, as in the case of a proof-of-stake blockchain, staked cryptocurrency helps secure a protocol. The cute metaphor beguiles the importance of the Ethereum Merge to everyone, not just cryptocurrency supporters. The Ethereum Merge is scheduled to occur around 11 p.m. For proof-of-work blockchains, that resource is power – in the form of the electricity required to run a mining operation. It takes a powerful computer to have a chance in this race, and people typically set up warehouses full of rigs for this purpose.

Matthew Graham, CEO of venture capital firm Sino Global Capital, weighs in on Ethereum's upcoming Merge and what the seminal moment may reveal about Chinese ...

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [proof-of-work](https://www.coindesk.com/learn/2020/12/16/what-is-proof-of-work/) (PoW) consensus mechanism to a faster and less energy-hungry [proof-of-stake](https://www.coindesk.com/learn/2020/12/30/what-is-proof-of-stake/) (PoS) protocol. [strict set of editorial policies](/ethics/). The change is expected to take place during the [early hours](https://www.coindesk.com/business/2022/09/13/ethereum-proof-of-work-fork-timing-posted/) of Thursday, Sept. Guo is hoping to attract the Ethereum miners the new PoS blockchain will leave behind because the new system will not require a miner's computing power to validate transactions on the chain. Guo said he planned to fork Ethereum to maintain a proof-of-work version.

The historic upgrade casts aside the miners who had previously driven the blockchain, with promises of massive environmental benefits.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). “Now the market is roughly 70/30 in favor of this being a positive event for ETH.” [replaced by new ones](https://www.coindesk.com/layer2/2022/04/20/is-ethereum-staking-pool-lidos-growth-an-omen-of-centralization/). In general, it is impossible to predict with certainty how the markets will react to a successful Merge. In crypto markets, the Merge had become an object of speculation since at least mid-July, with traders initially viewing the event as a catalyst for a steep rally in the price of ETH. After around 15 long minutes, the Merge officially [finalized](https://www.coindesk.com/tech/2022/09/14/monitoring-the-merge-what-a-successful-ethereum-upgrade-will-look-like/), meaning it could be declared a success. “Proof-of-work is a mechanism by which you take physical resources and you convert them into security for the network. Edgington pointed to the environmental impact of the Merge upgrade as the benefit he is personally the most excited about. “I like to think of it as kind of like the switch from gasoline to electric.” “I mean, it's kind of hard to defend ‘stickers for grownups’ that emit, by some estimates, a megaton of [carbon dioxide] a week.” From an energy costs perspective, it's like Finland suddenly shut off its power grid, according to [one estimate](https://digiconomist.net/ethereum-energy-consumption). “The metaphor that I use is this idea of switching out an engine from a running car,” said Justin Drake, a researcher at the non-profit Ethereum Foundation who spoke to CoinDesk before the Merge happened.

Ethereum is launching its much awaited software upgrade. Here are the things you should know about Merge.

PoS system, alternatively, has the ability to limit the number of miners which in turn lessens the power consumption resulting in a reduction of power consumed. The primary reason for this was the final transition to a Proof of Stake consensus model, which drastically reduces the energy consumption by 99.95%, as compared to just prior to the transition. Considering the complexity of such a transition, it is going to take a lot of time. Used by the likes of Bitcoin, PoW allows miners to validate crypto transactions by lending computer power which leads to massive energy usage. 'Forking' is inevitable when it comes to the real use case of The Merge. The new software upgrade of Ethereum called 'Merge' is set to go live.

The upgrade, known in the industry as the “Merge”, which changes how new transactions are verified on the Ethereum blockchain, completed early Thursday, co- ...

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Today's Ethereum Merge massively reduces the power consumption of the Ethereum blockchain and its features like smart contracts and Non-Fungible Tokens ...

There’s never been a more important time to explain the facts, cherish evidence-based knowledge and to showcase the latest scientific, technological and engineering breakthroughs. Since its creation in 2015, Ethereum has been criticised for being too energy-hungry, too expensive, and too slow to form the basis of a global financial network. For the sake of gods old and new, do not treat this article as investment advice. That’s not so bad if you’re buying a house, but it means Ethereum still isn’t ready for day-to-day transactions like buying a cup of coffee. These competing “miners” use staggering amounts of power, often in places where that power is generated by fossil fuels. and a lot less electricity.

SINGAPORE -- Cryptocurrency players are hoping a long-awaited overhaul of Ethereum and its digital coin ether will revive investor appetite for virtua.

Ethereum's transition from Proof of Work to Proof of Stake was successfully completed just after 2:30 AM ET, or 5:30 AM GMT at block 15537391.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [strict set of editorial policies](/ethics/). [According to EtherNodes](https://www.ethernodes.org/merge), 88% of ether nodes were Merge ready and synched in the moments leading up to the event. [quoted on the Bankless podcast as saying](https://www.benzinga.com/markets/cryptocurrency/22/07/28238848/vitalik-buterin-the-merge-isnt-priced-in-yet)“not going to be priced in pretty much until after it happens” traders appeared to disagree. - Steep exchange inflow is usually a sign of traders preparing to sell, however, there isn’t a consensus yet. “But the fundamentals couldn’t be stronger.”

Ethereum has completed "the Merge," moving the network away from Proof-of-Work to a Proof-of-Stake consensus mechanism.

Besides ETH itself, there’s a broader question of whether Ethereum’s move to Proof-of-Stake will lead to an increase in public interest in the network. Despite the clear arguments for a bearish ETH and the broader crypto space today, the Merge is arguably the biggest catalyst for a rally that Ethereum has ever seen. central bank is committed to curbing inflation; he [reiterated in Jackson Hole](https://cryptobriefing.com/into-the-night-markets-tremble-as-powell-warns-of-pain-ahead/) last month that the Fed was targeting a 2% rate, which is still some way off today’s surging price rises. Consumer Price Index came in [higher than expected at 8.3%](https://cryptobriefing.com/us-inflation-eases/), and it still looked sluggish in the hours leading up to the Merge. [“sell the news” event](https://cryptobriefing.com/with-inflation-8-3-ethereum-risks-sell-the-news-merge/), likely because it generated huge hype and such scenarios are a common occurrence in crypto. Vitalik Buterin, meanwhile, confirmed in [a tweet](https://twitter.com/VitalikButerin/status/1559271315080679432) that he would consider censorship an attack on the network and advocate for slashing, a process where stakers lose their ETH as punishment for misbehaving or failing to validate transactions as required. [raised concerns](https://cryptobriefing.com/will-ethereum-be-vulnerable-to-censorship-after-the-merge/) about the network’s ability to evade censorship in light of the U.S. [hit a 2022 high](https://cryptobriefing.com/ethereum-bitcoin-ratio-hits-2022-high-merge-run-up/) against BTC, sparking Ethereum enthusiasts’ hopes of a possible “flippening” event in which Ethereum overtakes Bitcoin’s market capitalization (ETH holders have been [calling for](https://ratiogang.com/) the flippening for years now). [Bellatrix upgrade](https://cryptobriefing.com/ethereum-completes-bellatrix-final-pre-merge-update/) in which Ethereum prepared its consensus layer for the main event. The Proof-of-Work chain is expected to go live with an airdrop for ETH holders in the next 24 hours. “Proof-of-Stake has been a dream for the Ethereum ecosystem since pretty much the beginning,” said Buterin during the Ethereum Foundation’s viewing party. [a live streaming party](https://www.youtube.com/watch?v=Nx-jYgI0QVI); over 40,000 people tuned in to watch as the Merge shipped.

Ethereum, the most popular cryptocurrency platform, completed its much-anticipated switch to a more energy-efficient infrastructure.

That new chain, the Beacon Chain, was unveiled in December. A flaw in the Merge could imperil the broader crypto industry, upending start-ups and sending the market into a tailspin. The system is widely known as “mining” because the computers earn payments in cryptocurrency as rewards for the verification service. The process of shifting Ethereum to proof of stake required years of intense study and debate. The upgrade is expected to reduce Ethereum’s energy consumption and set the stage for future improvements that will make the platform easier and cheaper to use. It was a rare moment of joy in a grim year for crypto that saw a devastating market crash drain nearly $1 trillion from the industry, forcing some prominent crypto companies into bankruptcy.

Ethereum transitioned to proof of stake shortly after the network reached “terminal total difficulty” early Thursday.

[some](https://ethereum.org/en/upgrades/merge/) have analogized to changing the engine of a rocket ship mid-flight. The transition is anticipated to be faster, more scalable, and Up until the moment of the merge, ETH was generated by “mining,” an energy-intensive process by which individuals directed huge amounts of computer power at difficult-to-solve puzzles.

Ethereum, the world's second most valuable cryptocurrency, has completed a massive software upgrade that its backers claim will slash its carbon footprint.

The merger moves ethereum to a mechanism called “proof-of-stake,” which is much more energy efficient. The world’s most valuable cryptocurrency, bitcoin, was down almost 1%, trading at $20,174, according to CoinDesk. blockchain called the Beacon Chain,” it added.

The decrease in energy consumption takes one criticism of NFTs off the table, which in turn could see Ethereum once again become the most used blockchain for ...

There are still fights ahead for NFTs, including looking at decoupling non-fungible tokens from the vagaries of market forces and for projects to break away from a focus on digital art – read my feature on Case in point, the first NFT created on the post-merge Ethereum is below. OpenSea is the largest NFT marketplace around and has also stated that post-merge it will now only support proof-of-stake NFTs, so your guaranteed all non-fungible tokens from now on are low-cost energy. What the Ethereum merge doesn't mean is cheaper gas fees – the cost you're charged to register an NFT on the blockchain. So what is the merge and why does it matter that Ethereum has changed from proof-of-work to proof-of-stake? The Ethereum merge has finally happened and it could be the single biggest change to how we create and use NFTs, ever.

Ethereum's core developers already have their eyes set on the network's next upgrade, Shanghai. What it will consist of, however, is up for debate.

[rolling collections of transactions into a unit](https://decrypt.co/resources/what-are-ethereum-rollups-scaling-solution-cut-transaction-costs) that is presented to the Ethereum blockchain as a single transaction. Van Der Wijden is confident though that the upgrade will occur within the next year. “Some of the more research-focused people don't really consider that all of this has to be implemented and tested,” said Van Der Wijden. There have been no updates made to the EVM in over two years, in part because incorporating those improvements into the merge would have created a massive headache for developers. Staking ETH will allow these entities to generate and collect new ETH as a reward for proving the computing power necessary to validate transactions and secure the network. And once again, the decision will have multi-billion dollar implications.

The move, also known as “The Merge”, was a decision made by Ethereum's co-founder, Vitalik Buterin, way back in 2016, who very clearly was looking for a more ...

The more important aspect of shifting from PoW to PoS, though, is the massive decrease in energy consumption; The Ethereum Foundation says that the switch means that energy costs are effectively reduced by more than 99%, while global power consumption will also drop by 0.02%. Till today, this was the defacto way of earning a piece of the digital coin. Now that Ethereum has switched over to PoS, the paradigm is shifted to individuals and validators who can or have put up their own Ether as collateral. The move, also known as “The Merge”, was a decision made by Ethereum’s co-founder, Vitalik Buterin, way back in 2016, who very clearly was looking for a more energy-efficient and environmentally-friendly manner of sustaining the digital currency. Fast forward to today, and upgrade and switchover to PoS is now complete, and that in turn triggered another upgrade, known simply as the “Paris Upgrade”. This is a big moment for the Ethereum ecosystem.

Two major news events could rock the crypto market this month. Here's what experts think, and why it matters for crypto investors.

[ethereum](https://time.com/nextadvisor/investing/cryptocurrency/price/ethereum-eth/) [merge](https://time.com/nextadvisor/investing/cryptocurrency/ethereum-merge-price-this-week/) took place on Thursday, completing one of the largest events in crypto to date. One thing’s for sure: If the last couple years have taught us anything, it’s that crypto prices are highly volatile and difficult to predict. “We believe bitcoin should ultimately be used as a proxy for direction in the broader crypto market,” Kruger said. The market is particularly volatile right now, as inflation numbers send crypto and stock prices tumbling ahead of another likely rate increase next week at the Fed meeting. [saw similar tumbling](https://time.com/nextadvisor/investing/latest-stock-market-news/) following the CPI release, and the crypto market has increasingly tracked the stock market in recent months. “Given how things have been correlating, and considering this latest inflation data, we expect more downside pressure in crypto as investors are forced to contend with the reality of higher for longer monetary policy that strains growth prospects and weighs on sentiment. The Fed is essentially attempting to cool down the economy in order to rein in rising prices. “There’s no doubt the CPI report has triggered a fallout in risk assets and crypto markets by extension,” said Joel Kruger, Market Strategist at LMAX Group, a financial technology firm headquartered in London that operates foreign currency and crypto exchanges. The ethereum merge has been highly anticipated in the crypto community, and it was finally completed in the wee hours of the morning on Thursday. The change could cut ethereum’s electricity expenditure by an estimated 99.95%, [according to the Ethereum Foundation](https://ethereum.org/en/upgrades/merge/#main-content). Among other concerns, unforeseen bugs in the blockchain could cause outages, which could lead to significant price drops. [Bitcoin’s](https://time.com/nextadvisor/investing/cryptocurrency/price/bitcoin-btc/) prices have gyrated similarly.

The price stability that prevailed after Ethereum's shift to a more energy-efficient "proof-of-stake" network suddenly evaporated as ether slid 9.1%, ...

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). In the weeks before the Merge, bitcoin and ether appeared to be traveling on separate trajectories. [strict set of editorial policies](/ethics/). In total, 12%, or 305, nodes appeared to be recalcitrant, with the transition with the majority from the Geth network. “We expect this volatility for at least the next 24 hours.” Investors should definitely be cautious, as always, and expect volatility in price and narrative," he added. “I think that you wouldn’t have to throw many rocks to find a fund that has a healthy nine-figure position on the merge, long spot short derivatives or something like that," said Abraham Chaibi, co-founder of Dexterity Capital. “ETH peaked at $2,000 one month ago and has seen a sharp drop today once the Merge was deemed successful. [blockchain data](https://twitter.com/ASvanevik/status/1570268736229199872) showing that investors were sending ETH to crypto exchanges in droves – often taken as a sign that holders are getting ready to dump. The [CoinDesk Market Index](https://www.coindesk.com/indices/cmi/) was down about 4%. “We’ve also seen market depth decrease and spreads increase, so that will likely factor into larger price movements.” [quoted on the "Bankless" podcast as saying](https://www.benzinga.com/markets/cryptocurrency/22/07/28238848/vitalik-buterin-the-merge-isnt-priced-in-yet) the Merge was “not going to be priced in pretty much until after it happens.” [According to EtherNodes](https://www.ethernodes.org/merge), 88% of ether nodes were Merge-ready and synced in the moments leading up to the event.

The price of ether fell on Thursday after the Ethereum network completed its migration to the proof-of-stake consensus mechanism.

"On the other side, asset managers and holders are actually positioning themselves ahead of a longer-term game," he added. Some analysts have said they expect to see that trade unwind after the merge. Still, the market remains largely macro-driven. It seems likely, then, that if the Merge turns out to have a positive effect on Ethereum's price action, the upside may not be sustainable." Traders had expected to see a decline in the price following the transition late Wednesday night. In August it fell almost 9.3%, compared to bitcoin's almost 17% loss.

Although the Merge was a huge feat, there are plenty more upgrades planned for the Ethereum blockchain down the road. In July, Vitalik Buterin, co-founder of ...

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Ether was down more than 9% at one point as traders decided to “sell the fact” following a nearly seamless Ethereum Merge.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [Digital Asset Classification Standard (DACS)](http://coindesk.com/indices/dacs), developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. [strict set of editorial policies](/ethics/). [Meet 8 Ethereum Developers Who Helped Make the Merge Possible:](https://www.coindesk.com/tech/2022/09/15/meet-8-ethereum-developers-who-helped-make-the-merge-possible/)Ethereum’s impending shift to proof-of-stake could not have happened without researchers, developers, volunteers and many, many client teams. [The Ethereum Merge Is Done, Opening a New Era for the Second-Biggest Blockchain:](https://www.coindesk.com/tech/2022/09/15/the-ethereum-merge-is-done-did-it-work/)The historic upgrade casts aside the miners who had previously driven the blockchain, with promises of massive environmental benefits. [Merge](https://www.coindesk.com/learn/what-is-the-merge-and-why-has-it-taken-so-long/), sharply narrowed as Ethereum completed its technology transition without a hiccup. [Vitalik Buterin Says Ethereum Merge Cut Global Energy Usage by 0.2%, One of Biggest Decarbonization Events Ever:](https://www.coindesk.com/business/2022/09/15/vitalik-buterin-says-ethereum-merge-cut-global-energy-usage-by-02-one-of-biggest-decarbonization-events-ever/)Ethereum now spews out less carbon dioxide than a few hundred U.S. [Ether Futures Market Discount Evaporates After the Merge:](https://www.coindesk.com/markets/2022/09/15/ether-futures-market-discount-evaporates-after-the-merge/)The negative spread between futures and spot prices has narrowed from $20 to almost zero following the Merge. 12 Market Wrap](https://www.coindesk.com/markets/2022/09/12/market-wrap-ether-falls-despite-merge-anticipation-bitcoin-climbs-as-investors-await-inflation-data/), funding rates over the last 30 days continue to be negative, spiking directly ahead of the Merge. [ETH](https://www.coindesk.com/price/ethereum/)) price stability that prevailed after Ethereum's shift to a more energy-efficient ["proof-of-stake"](https://www.coindesk.com/learn/2020/12/30/what-is-proof-of-stake/)network suddenly evaporated as ether slid 9.1%, its worst day since late August. Instead, there’s likely a [“sell the fact”](https://www.coindesk.com/tech/2022/09/15/pivotal-ethereum-merge-brings-sell-the-fact-price-move-in-crypto-markets/) price move in play as an “Ethereum Merge” trade unwinds. [ETH](https://www.coindesk.com/price/ethereum/)) fell 9% on above-average volume.

Until now, both ethereum and bitcoin were running on proof-of-work, which requires high-powered computers to verify transactions and “mine” new coins across a ...

[Sign up](https://www.cnn.com/specials/nightcap?source=article) and you'll get all of this, plus some other funny stuff we liked on the internet, in your inbox every night. The unions have agreed not to strike while votes are being tallied, which means the negotiators have bought themselves a couple of weeks. Even though it's technically possible for bitcoin to alter its infrastructure, as ethereum just demonstrated, "bitcoiners view proof-of-work as a superior way of securing the network." In short, the merge would put the core infrastructure of ethereum on a more environmentally sustainable path, reducing its carbon footprint by 99%, according to the nonprofit behind the network. The workers who operate America's freight trains were at their breaking point, often working 14 days in a row, with no sick days (paid or unpaid) and constant fear of termination if they miss work for medical reasons. Similarly, workers at Kellogg continued to strike in December after negotiators thought they'd reached a settlement. (OK, most nights — we believe in a four-day work week around here.) Here's the deal: It's been a rough year for cryptocurrencies and their legions of fans. Per Biden's statement: "These rail workers will get better pay, improved working conditions, and peace of mind around their health care costs — all hard-earned." - (Ugh, I realize that still might sound like sci-fi, but the longer explanation would seriously put everyone to sleep. - But medical time off won't be paid. Bitcoin, by far the largest token, has fallen roughly 70% from its high nearly a year ago.

The shift to proof-of-stake has analysts exploring its impact on the blockchain's vaunted decentralization.

Some critics have described the merge as a [move toward centralization](https://twitter.com/ClassicPharaohs/status/1570194214256005126). The fact that Bitcoin is “sufficiently decentralized” is the main reason why it has remained [outside of the crosshairs](https://decrypt.co/103926/sec-chair-gensler-bitcoin-not-security-what-about-ethereum) of U.S. [key objective](https://ethereum.org/en/web3/) of crypto and Web3. Further, dominant parties could be pressured to censor transactions on the blockchain—although Coinbase CEO Brian Armstrong has said that [such a scenario](https://decrypt.co/107700/coinbase-ceo-wed-shut-down-ethereum-staking-if-threatened-by-regulators) would prompt his company to get out of the staking business. "It is doable by anyone with a sufficiently good computer, electricity, and internet," he said. The remaining stakers, classified as “other,” have 3.65 million ETH (26.5%).

Bullish sentiment around the Ethereum merge might be wavering as the price of ETH drops sharply this morning.

The move is [not altogether unexpected](https://decrypt.co/107003/ethereum-traders-preparing-buy-sell-merge). [CoinGecko](https://www.coingecko.com/en/coins/ethereum), ETH is down almost 8% over the last 24 hours to a current price of $1,485. While many Ethereum proponents were in favor of the merge, some ecosystem participants were less thrilled. The hype around the merge appeared to be Today, the price of ETH plummeted below the $1,500 mark for the first time in more than a week. [remained largely flat](https://decrypt.co/109808/ethereum-price-struggles-flip-bullish-following-merge) after the overnight merge, hovering around the $1,600 mark with slight ebbs and flows.

Compared to Wednesday, the global crypto m-cap barely rose 0.1 per cent to $990.61 billion on Thursday, while volumes tumbled over 8 per cent in the last 24 ...

[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). [Coindesk](/topic/coindesk)report, traders of futures tracking the two tokens took on some $80 million in cumulative losses, with Ether futures seeing $67 million in liquidations. For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) [Bitcoin](/news/bitcoin)fell about 1.17 per cent to $19,674 while the second-largest crypto by market cap, Ethereum, was trading with a cut of 0.68 per cent at $1590. [Byju’s Losses Swell to ₹4,588 Crore in FY21](/epaper/delhicapital/2022/sep/15/et-front/byjus-losses-swell-to-4588-crore-in-fy21/articleshow/94209658.cms) On the other hand, [Ethereum Classic](/topic/ethereum-classic)was up by over 4 per cent at $38.48 in a volatile session.

Ethereum's merge, which transitioned to an eco-friendly consensus model, was successfully completed overnight. A report from the Crypto Carbon Ratings ...

It’s just not tied to Ethereum itself anymore, which should help the network shed the [environmental concerns](https://decrypt.co/109623/ethereum-merge-ends-environmental-debate-nfts) that will continue to be linked to Bitcoin and other such cryptocurrencies. [Digiconomist](https://digiconomist.net/ethereum-energy-consumption), a site from noted crypto critic Alex de Vries. Whether ETHW retains long-term interest remains to be seen, but in the short term, some former Ethereum miners hope to profit in that space. According to an initial report out this morning, [Ethereum](https://decrypt.co/resources/what-is-ethereum-quickly-explained-four-minute-guide)’s energy needs and carbon footprint have both fallen even more than anticipated. As a result, Ethereum’s estimated annual CO2 emissions have dropped from over 11 million tons to just under 870—less than the combined total of 100 average American homes, It also suggests the blockchain's carbon footprint has dropped by just over 99.99% as well.

Ethereum network's native crypto token has tanked by over 9 per cent. USDT, USDC, DAI, and BUSD have witnessed volatility. Memecoins Doge and Shiba Inu are also ...

Polkadot’s native cryptocurrency DOT and Polygon network’s slipped from their previous positions over the last 24 hours. Stablecoin DAI rose 0.02 per cent and is trading at $1. USDC stablecoin also slipped 0.01 per cent and is trading at $1. Cardano's ADA token is down 1.65 per cent. Bitcoin is trading at $19,775 and is down by 1.34 per cent. Avalanche's AVAX is down by 3.64 per cent. The crypto token is trading at $1,480. DOT token is down by 2.38 per cent and Polygon’s MATIC crypto token has come down by 3.27 per cent over the last 24 hours. The stablecoin is trading at $0.9993. Bitcoin’s dominance stands at 39.30 per cent, an increase of 0.53 per cent over the day. USDT Tether stablecoin fell 0.02 per cent in its value over the last 24 hours and is trading at $1. The global cryptocurrency market cap is down by 3.55 per cent from Thursday’s levels and is below the $1 trillion mark.

Indirect ether plays benefit, while GPU negatives seem wrung out of Nvidia stock.

GPU demand accounted for up to 30% of demand for Nvidia chips according to some estimates, so the shift away from Ethereum mining threatened to put a major dent into its revenue. Trading volume appears to be slightly above average for the past few months, according to the latest data from Coinbase. According to data from Glassnode, ether was flooding into exchanges right before the Merge, a potential harbinger of trading activity. Staking allows users to earn additional yield on their holdings by posting them as collateral to the network in exchange for processing transactions for financial reward. The inventor of the graphics processing unit (GPU) computer chip, which was essential to mining Ethereum, is a potential loser from The Merge. Ether has been a growing driver of trading volume and revenue for Coinbase over the past three quarters.