ETH Jumps 5% Following Ethereum’s Sepolia Testnet Merge Success, Goerli Next

By Bhushan Akolkar
ethereum futures etf valkyrie

On Wednesday, July 6, Ethereum developers successfully conducted The Merge on the Sepolia testnet, taking the Ethereum network a step further to the Proof-of-Stake (PoS) network.

The news brought some cheer to Ether (ETH) investors as the ETH price has jumped 5% in the last 24 hours and is currently trading at $1,170. The world’s second-largest cryptocurrency has been under major selling pressure earlier this week.

However, this positive development is certainly reigniting hopes for investors. During yesterday’s event, Sepolia’s proof-of-work chain aka the execution layer merged with the proof-of-stake beacon chain aka the consensus layer.

Ethereum educator Anthony Sassano confirmed the success of The Merge on the Sepolia testnet. He added that it also paves the way to implement The Merge on the Goerli testnet. On his Twitter timeline, Sassal wrote:

Thanks to everyone who watched the Sepolia merge livestream!! The Sepolia merge transition went through successfully (and the chain finalized!) so now it’s time for monitoring over the next few days. Then we merge Goerli… …then mainnet. The Merge is coming.

No Delay In the Mainnet Merge

The development of Ethereum 2.0 transition to a Proof-of-Stake mechanism has seen partial delays in the past. Currently, the Ethereum mainnet transition is expected to happen by the year-end.

Even with The Sepolia testnet Merge, there have been some hiccups. However, Ethereum protocol developer Terence Tsao called the Merge a “success”. He added that 25-30% of validators went offline after the Merge amid “wrong configs”. Later, he referred to them as minor “hiccups” that won’t delay the mainnet Merge further.

These testnet Merges basically serve as a “rehearsal” for Ethereum developers giving them a fair idea of what challenges to expect during the mainnet Merge. During yesterday’s live stream, Ethereum co-founder Vitalik Buterin pointed out some challenges with the main network Merge.

For e.g. the mainnet Merge will include third-party infrastructure that’s currently not available during the testnets. Buterin said:

“So there might be non-critical issues like that that will just pop up in the Merge that we’re not catching with these tests […] There’s a lot of peripherals that are just not getting tested and that’s unavoidable and probably fine.”

Advertisement
Bhushan Akolkar
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.