ethereum‘s much-anticipated “បញ្ចូលចូលគ្នា” seem to be closer than ever. DeFi investors are hoping that Ethereum’s ‘Merge’ will pull the crypto market out of its current bear market.
All roads lead to ‘YOU’
The second-largest cryptocurrency has significantly suffered in 2022.
ទិន្នន័យ from DeFiLlama shows, that the total value of assets locked in the space has touched new lows. According to the data, DeFi TVL is less than $110 billion, the lowest since October 2021.
Moreover, on 30 May, the Ether address allegedly associated with រាជធានីព្រួញបី sent 32,000 ETH worth $60 million to the FTX crypto exchange within a span of an hour. Ergo, injecting sell-off fears.
But this might change as roads are leading to the Merge. Ethereum’s merge is undoubtedly one of the most anticipated developments in the crypto space. Here’s the first pit stop.
នេះ Ropsten testnet on the Ethereum network is ready to set the stage for the “first dress rehearsal” of the ‘Merge’ to adopt the proof-of-stake (PoS) consensus mechanism. Core Ethereum developer ទឹមប៊ីកូ, on 31 May shared this news on the social media platform. The final test Merge is expected to be “around 8 June.”
? សេចក្តីប្រកាសអំពីការបញ្ចូលគ្នារបស់ Ropsten ?
PoW testnet ដែលមានអាយុវែងបំផុតរបស់ Ethereum កំពុងផ្លាស់ប្តូរទៅកាន់ Proof of Stake! ខ្សែសង្វាក់ beacon ថ្មីមួយត្រូវបានដាក់ឱ្យដំណើរការនៅថ្ងៃនេះ ហើយ The Merge ត្រូវបានគេរំពឹងថានឹងមាននៅថ្ងៃទី 8 ខែមិថុនា នៅលើបណ្តាញ។
Node Operators៖ នេះជាការហាត់សមសម្លៀកបំពាក់ដំបូង?https://t.co/0fDHObLOmn
— Tim Beiko | timbeiko.eth ? (@TimBeiko) ថ្ងៃទី 30 ខែ ឧសភា ឆ្នាំ 2022
Just minutes after this development, ETH’s number of addresses holding 100+ coins reached a 1-year high of 43,425.
ប្រភព៖ Glassnode
Ethereum remained supported above the $1,850 level. Indeed, it was a steady increase and the bulls were able to push the price above the $1,920 resistance zone.
At press time, ETH with a 3% surge in 24 hours crossed the $1.96k mark. This would also be a positive trigger for the investors who are currently showing some certainty concerning the altcoin.
ប្រភព៖ Glassnode
Well, undeniable, ETH holders, at press time, are optimistic that their investment would turn into profits.
Relief rally?
The said bounce in Ether came as “no surprise” to market analyst and pseudonymous Twitter user ដើមទុនរ៉េត. But, there might be some concerns. A crypto analyst with the Twitter name Crypto Tony offered a word of caution, ប្រកាស the following chart and warning to “never lose sight of the bigger picture.”
$ ETH / ដុល្លារអាមេរិក - ធ្វើបច្ចុប្បន្នភាព
Never lose sight of the bigger picture. Yes things are looking nice at the moment, but to me this is simply a relief rally. We have no broken market structure on the time frame and until proven otherwise i am still looking for one more leg down ? pic.twitter.com/EBvOqZ5WcH
- គ្រីបតូតូនី (@CryptoTony__) ថ្ងៃទី 30 ខែ ឧសភា ឆ្នាំ 2022
Source: https://ambcrypto.com/eth-traders-couldnt-keep-calm-as-first-dress-rehearsal-of-the-merge-was/