The Ethereum Merge is finally here. The merge was successfully completed on September 15. However, Ethereum users have yet to collectively witness Ethereum's post-merge impact on the overall crypto market.
However, it's not only the prices that have garnered interest. Investors are also wondering if Ethereum's PoS consensus will lower Ethereum's gas fee prices.
Ethereum merge price
The price of Ethereum has yet to witness a potential merge price pump. Several crypto critics have referred to it as the Merge Surge phenomenon.
Ethereum is now trading at $1,584.51, down 1.22% in the last 24 hours and is up 30% in the last month. In contrast, Bitcoin is up 18% in the last month.
A period of large-scale crypto crashes saw Ethereum drop from $3500 in April to under $1000 in June, before recovering. The confirmation of the merge date for Ethereum may have reversed this bearish crypto sentiment for ETH.
The Merge is one of the biggest crypto events of the year, where Ethereum will adopt a proof-of-stake consensus. This will remove the need for Ethereum mining, and instead see a full switch to Ethereum staking.
Ethereum price after the merge
While we won't speculate on Ethereum's price after the Merge, crypto analysts, holders, and enthusiasts are avidly waiting for Ethereum's next moves.
Before the merge, Vitalik Buterin, co-founder of Ethereum, said in a Bankless interview that he believed the merge had yet to be priced in. Both Buterin and Ethereum have tempered expectations about the merge's impact on gas fees and transactions.
These changes will come with sharding. Buterin said Ethereum will be able to process 100,000 transactions per second. With the Ethereum shanghai update being next in the queue, ETH transactional costs will be lowered in due time.
As with several Ethereum upgrades, more crypto analysts have come out touting the potential of the 'Flippening' - a fabled event whereby Ethereum overtakes the Bitcoin market cap.