NewsletterBreaking: Almost 85% Ethereum Clients Ready For The Merge, ETH Price Jumps
As the Ethereum Merge fast approaches, Ethereum clients and developers prepare for the successful implementation of the Paris upgrade and the Merge. Almost 85% of Ethereum clients are now ready for Ethereum Mainnet (execution layer) to combine with the Beacon Chain (consensus layer). Moreover, the ETH price also jumps as the Merge readiness is now 99.64% complete.
Ethereum Clients Almost Ready for the Merge
Ethereum will transition from PoW to PoS with the Merge estimated to happen on September 14 at 23:36, as per the Ethereum Foundation’s Merge tracker. Also, the remaining blocks left for mining are less than 17,000.
Moreover, the Ethereum Merge readiness is now 99.66% complete as Ethereum clients and developers push for the successful implementation of the Merge, as per data by OKLink’s Merge Countdown. The network hash rate has also dropped to 875 TH/s, after rising to 900 TH/s recently.
According to Ethernodes, nearly 85% of clients are now ready for the Merge. Notably, 83% Go-Ethereum (geth), 91% Erigon, 99% Besu, and 92% Nethermind execution layer clients’ nodes are ready. All network nodes are required to upgrade with fixed and improved client releases before the Paris upgrade.
Interestingly, geth is the most used Ethereum client, 1143 nodes are ready and 237 nodes are still pending.
Ethereum Foundation has also announced the shutdown of the Kiln testnet after the Merge. In fact, Ropsten and Rinkeby testnets will also be shut down in Q4 2022 and Q3 2023, respectively. All users and developers are required to migrate to Goerli or Sepolia testnets.
ETH Price Jumps Ahead of the PoS Transition
Ethereum (ETH) price has jumped nearly 15% in a week as support for PoS transition continues to grow. DeFi platforms including Aave, Uniswap, MakerDAO, and others have expressed support for PoS. The platforms have also turned down support for any Ethereum PoW fork.
At the time of writing, the ETH price continues to trade near the $1750 level as volatility increases ahead of the Merge. Data suggests ETH price will be deflationary, but not immediately. Here’s how the ETH price may move after the Merge.
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