There is a lot of buzz surrounding the imminent Ethereum (ETH) Merge, a major milestone for the crypto project. It is said to help the community’s ETH price rise in the future. In light of this, there has been a substantial uptick in activity on the ETH network leading up to the merging date.
There are currently 204,571,827 wallet addresses on the ETH network, according to Etherscan, a blockchain research group focusing on ETH. The network’s current count of 2,210,529 shows that over 70,000 new wallet addresses have been added daily for the previous days.
The number of IP addresses on a network is not proportional to the number of users. This is because one person might have many inactive wallets. Many wonder how this will affect the industry, especially those who are fond of playing Bitcoin casino games.
High interaction ahead of Merge
In contrast to the downward price movements of ETH, the number of miners addressing the network has risen. The growing number of addresses indicates that investors are anticipating a price increase just before the Merging.
The price of ETH rose temporarily in August after news of the Merger became public. Nonetheless, widespread market uncertainty caused prices to fall once more. An analysis from August 2022 showed that the seven-day moving average of wallet addresses in losses on the ETH network had reached 38,001,366.
What do analysts expect?
The impact of the much-discussed movement has been the subject of commentary from analysts worldwide. While some predict that the price of ETH will rise after the technical upgrade, others have more pessimistic expectations.
Antoni Trenchev, the founder of the cryptocurrency loan company Nexo, said that the Ethereum integration does not ensure price increases but still presents the chance of large gains. However, he did point out that price increases are contingent on the Merger’s initial success.
What can happen to Ether’s price after ETH Merge?
Traders are putting bets in the crypto market’s derivatives and spot markets in anticipation of future ether price movements after the Merge, which will occur as the Ethereum network transitions to proof-of-stake (PoS).
The Ethereum Merge is the cryptocurrency industry’s most substantial upgrade to date. Bitcoin and Ether prices will likely be affected by the successful transition from proof-of-work to proof-of-stake consensus mechanism.
Experts on the bullish side of the market believe that the price will rise in the short term due to the importance of the event, which is likely to occur on or around September 2022. However, it is possible that the Merge will not go as planned or that a controversial hard fork will have a negative effect on the value of coins in general.
With many possibilities about the Merge, many crypto players who enjoy playing Bitcoin casino games are wondering whether they will be affected by it. Despite the possible drawbacks of the ETH Merge, most are still looking forward to good outcomes.
