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  • Writer's pictureAnthony Holman

The final test merge before the ‘Real Thing’

Ethereum (ETH - pronounced ‘eeth’) is the major headline going into the day -

On the eve of the Goerli Testnet Merge - the final test merge before the ‘real thing’ - aka

Ethereum’s Mainnet Merge -

The number 2 rated coin by market value jumped 8%, to a new monthly high of $1,851.

Ethereum educator and founder of the The Daily Gwei podcast, Anthony Sassano

tweeted out:

“ETH giga pumping on the day of the Goerli merge

Probably nothing”

As Ethereum moves one-day and one-major-milestone closer to its Mainnet Merge,

speculators are starting to “buy in” to the hype.

The Twitter user SalsaTekila posted this TradingView chart, which shows

Ethereum-September Futures trading at a 9.4% premium above the spot price - drawing

to the conclusion:

“Speculators are bullish coming into that Merge, it would seem.”

The Merge will reduce Ethereum's energy consumption by ~99.95% -

according to the website - essentially eliminating a major headwind

narrative that cryptocurrencies are energy inefficient.

And after the Merge, the daily issuance of new ETH will drop by ~90%. A massive

reduction to Ethereum supply.

Ethereum currently has an inflation rate of about 4.13% per year.

After the Merge, the inflation rate drops to about 0.49% per year.

The reduction in supply, coupled with an increase in demand - should spell higher-highs

for Ethereum’s future price.

How do we know demand for Ethereum is increasing?

Glassnode analytics revealed on Wednesday that the number of “non-zero” Ethereum

addresses - or crypto wallets that are holding some amount of ETH - had reached a

new all-time high - surpassing 84.86M.

And in anticipation of the upcoming Merge - major crypto exchange Binance announced

its support of Ethereum's merge to Proof-of-Stake.

Jim Cramer, the host of CNBC’s show Mad Money, joined the Ethereum headlines when

he commented on his show: (tweet)

“It’s a new day… buy Ethereum”.

Now all eyes in the crypto-world shift to the Goerli Test Merge.

If all goes as planned, and no bugs or technical issues are reported - then the Mainnet

Merge is scheduled to take place on Sept. 19th - only a few weeks away.

Ethereum Core Dev DanielC tweeted out:

“Just a few weeks left till The Merge.

The whole Core team… is on their toes working on the last fixes and

stabilization. We're almost there 💪 🐼”

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