‘Merge’ rally pushes Ethereum almost to $1,400

The price of Ether was trading in the green this morning, continuing a rally that kicked off after the release of a soft timeline for the underlying Ethereum blockchain’s transition to proof-of-stake from proof-of-work. 

At last check, the price of Ether was trading up about 10% at $1,351, according to data from TradingView. 

On Friday, Ethereum Foundation’s Tim Beiko projected that the so-called merge — the transition to proof-of-stake — may take place in mid-September. The September projection was one of the updates from a developers’ call focusing on the merge, which would alter the crypto’s consensus mechanism. 

That timeline is subject to change.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Frank Chaparro covers the intersection of financial markets and cryptocurrency as Director of News. Since joining the publication in 2018 as its first reporter, he has played a key role in building The Block into a leader in financial journalism and research.

He leads special projects, including The Block’s flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected]

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