The imminent transition of the Ethereum blockchain to a new, greener system has sparked a frenzy of trading among hedge funds.

Less than 24 hours after Ethereum’s technical upgrade Merge was planned, the cost of holding a short position or bearish bet in the Ethereum-related perpetual futures market is soaring.

With the Ethereum merger looming, the upgrade is widely expected to make Ethereum a deflationary cryptocurrency.

As many as 73.5% of Ethereum nodes are now marked as merge-ready ahead of the upcoming Bellatrix upgrade for Ethereum on September 6.

After the Bellatrix upgrade, the Ethereum network leaked block rate soared 1,700% on September 7.

In a recent interview with economic blogger, Ethereum co-founder Vitalik Buterin said that his influence on the blockchain network has been declining over the past two years, and many new developers are taking over the role.

FTX released updated notes on Ethereum merger. FTX will suspend the deposit and withdrawal of native ETH and ERC-20 tokens about half an hour before the Bellatrix consensus layer upgrade (Beacon Chain epoch 144896: September 06, 2022 11:34:47 UTC) and the Paris execution layer upgrade.

In a report titled DeFi’s Battle of Stablecoins, DappRadar emphasized that Ethereum’s impending merger is one of the most anticipated events in the crypto industry.

According to Frank Downing, an analyst at investment management firm ARK Invest, ethereum may begin to gather more bullish momentum as the cryptocurrency market pivots back into a risk-oriented Environment.

Ethereum’s price jump from mid-July to mid-August is likely to continue to fade as investors gain a better understanding of ethereum’s technical upgrade and future blockchain upgrades, Bank of America said in a report Friday. influences.

NBA Dallas Mavericks owner and billionaire Mark Cuban said in an interview with Fortune that he is still super bullish on Ethereum, but he declined to make a specific price prediction.

According to Glassnode data, the current open interest of ethereum options has reached 6.6 billion US dollars, a record high, at the same time, Bitcoin options outstanding contracts are 4.8 billion US dollars.

According to Ethereum’s latest weekly progress report, the mainnet merger preparation checklist has been completed and officially released on GitHub.

According to the countdown data of the Ethereum merger of the OKLink multi-chain browser, the current Ethereum merger progress has been completed by 96.54%.

Ethereum developer Tim Beiko updated the content of the Ethereum Core Developers Conference, saying that the Ethereum testnet Sepolia was originally planned to be upgraded at block height 1735371 on August 17. Since some validators are offline, it is now expected to be upgraded around August 21.

BitMEX founder Arthur Hayes published an analysis article to predict the price of Ethereum again. Arthur believes that the market will reach the expected high before the merger.

In the article, Andrey Sergeenkov, an independent researcher in the cryptocurrency space, said that, contrary to what most people think, TheMerge will not change Ethereum’s gas fees. It did not expand network capacity nor provide a more efficient transaction structure.

Vitalik Buterin, the co-founder of Ethereum, participated in discussions on social platforms if supervision should be conducted through the verifier nodes of certain protocols (such as Lido, Coinbase, etc.) to conduct protocol-level review of Ethereum.

According to former Goldman Sachs executive and macroeconomic expert Raoul Pal, ETH remains the safest and easiest way to allocate assets, and he expects a massive supply shock from Ethereum’s merger upgrade, which will benefit ETH’s price action.

The Ethereum Foundation issued a document saying that the parameters of the mainnet merger were agreed in the community conference call, but TTD is based on the difficulty of proof of work, so it is difficult to accurately estimate, the target date is September 15, 2022, but this estimate is even There may be a one-week error.