The Final Countdown

All eyes are on Ethereum as we inch closer to the final upgrade, marking its migration from proof-of-work to proof-of-stake. With the ready check complete, all that remains between today and the Merge is time.

• Ethereum developers confirmed that all the preparations for the merge have been completed successfully.
• This set of preparations, known as shadow forks, began with the first implementation on April 11th, earlier this year. Shadow forks copy the current state of the Ethereum network. This shadow fork, the 13th, was merged into the beacon chain as a stress test to uncover any unforeseen problems.
• Shadow fork’s to-do list included: practice running nodes, contract deployment, infrastructure testing, and other functionalities set to be part of the Merge.

The Merge is scheduled to be completed this week sometime between the 13th and 15th. Binance suspended deposits and withdrawals for ETH and wETH on some networks (Optimism, Arbitrum, and Ronin) earlier this month in anticipation of the Merge.

Speculation about the effect of the Merge is in no short supply. An unsuccessful or difficult event could easily result in swift downward price action. Alternatively, a successful Merge could either have a lackluster impact or pump the price significantly, as opinions on whether or not the event is already priced into the market.

The most likely outcome of the Merge, successful or otherwise, is most surely volatility.