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Ethereum Merge Completes and Next is Cardano Vasil Hard Fork

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Ethereum Merge Completes And Next Is Cardano Vasil Hard Fork
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  • On September 22, 2022, the Vasil hard fork will be completed.
  • As of Monday, a whopping 95% of blocks are already coming from 1.35.3 nodes.

For a long time, members of the Ethereum community have touted the Merge as a significant improvement to the network’s underlying infrastructure. In addition to mitigating the network’s negative effect on the environment, PoS will provide Ethereum’s native ether (ETH) token with a new use case: staking.

Due to the proximity of two major events, the crypto space was on its heels over several weeks. On September 22, 2022, the Vasil hard fork will be completed, while the highly anticipated Ethereum Merger has just now completed.

The first step in the change is the starting point for greater network efficiency and scalability. The asset has recently been trading at $1755, while in a strong upward trend. As a result, it is anticipated that the price will spiral upward, surpass the nearby barrier at $1800, and finally settle in the vicinity of $2,000 very soon.

Loans to ETH have skyrocketed, suggesting that investors are very bullish on the cryptocurrency’s potential to surge in value in the wake of the Merger. In all, more than a billion dollars’ worth of coins were borrowed.

Core Ethereum developers will keep improving the open-source network in the months and years even after the Merge, with plans to further reduce transaction costs and increase network performance and security.

Vitalik Buterin, one of Ethereum’s co-founders, has previously speculated that the full effects of The Merge won’t be seen for some time. He estimated that the price of ETH wouldn’t change until after six to eight months had passed during the changeover.

Now Focus Shifts to Cardano Hard Fork

On the other hand, according to the latest information, the Cardano platform is rapidly closing up on its fate, which is to be found in the Vasil Hard Fork on September 22, 2022. More than 94% of all mainnet blocks have been generated as of this writing by the last remaining candidate Vasil node (1.35.3).

Binance, MEXC, BitTrue, Gate.io, BTC Turk, OKX, Whitebit, etc., among others, have all signaled their preparation for the impending event. Half of the most popular Cardano dApps are also preproduction-ready, while the rest are still under testing. More than 3,000 scripts have been released on Plutus, while almost a thousand projects are under development on Cardano.

Since market optimism and development efforts are on the rise, the ADA price is also expected to soar in the near future. Thus providing a much-needed boost for investors and the whole market as well. As a result, the two most anticipated events are likely to flip the script for the whole crypto market, which might help Q4 get off on a strong note.

Cardano builder Input Output has made significant progress toward the much-anticipated Vasil hard fork. As of Monday, a whopping 95% of blocks are already coming from 1.35.3 nodes. Furthermore, as reported, version 1.35.3 was chosen to be the final node candidate for the Vasil hard fork, and the network was required to move forward with the upgrade to reach the 75% threshold. As of Sept. 12, the majority of the largest exchanges by liquidity have either integrated Vasil or started preparing for the high-stakes upgrade.

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Bitcoin’s Price Indeed Struggling to Retain $20K Mark

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Bolt Cancels $1.5B Acquisition Deal Of Wyre Payment
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  • BTC is now trading at $19,258 and is down 0.37% at the time of writing.
  • The global market fell from a trillion to $926.78 billion.

Bitcoin is battling to recuperate its deficits from the previous month, and it is striving to achieve $20,000 after achieving a low of less than $18,500. The BTC has been a victim of the Red Candle March since last month.

Bitcoin Is Hold Up in a Range

Bitcoin is currently trading above $19,000, actually rose $19,250, and a simple moving average from the last 100 hours. Furthermore, prices have risen above $19,500 and $20,000.

The bears are active above the $20,000 resistance zone, and a high of $20,180 has been created, indicating that the price has begun to fall. It was down to $18,588 at the end of the previous month, but it is currently trading in the green and has hit $19,145.

Bitcoins Price Indeed Struggling To Retain 20K Mark
BTC Price Chart (Source:CMC)

At the time of writing, Bitcoin (BTC) is trading at $19,258 with a 24-hour. Trading volume of $23.88B, climbing to 33.74%. And the market cap is $369,233,419,623 and it has reduced to 0.36%. It is now circulating at 19,167,575.00 BTC. And the price has declined by around 0.37%. And it has been reported that it has risen in the previous 24 hours and that it is trading in the red.

The global crypto market has slipped from $1 trillion to $926.78 billion, a reduction of 1.11%, while the crypto market has climbed by 31.60% in the previous 24 hours to $47.51 billion.

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2X Price Surge in Terra Classic (LUNC) Within a Week

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2X Price Surge In Terra Classic (Lunc) Within A Week
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