Breaking:The Ethereum Merge is Officially Complete

The Ethereum Merge is officially complete with a merge difficulty of 58750000 P
Not only are retail investors eyeing the altcoin but also institutional investors.

All eyes are glued to the long-awaited Ethereum Merge event. The Ethereum merge is probably the biggest event ever written in the history of crypto considering the enormous scale of transition. Vitalik Buterin has confirmed that the Ethereum merge upgrade has officially completed with the network transitioning from PoW to PoS

And we finalized!

Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.

— vitalik.eth (@VitalikButerin) September 15, 2022

Just minutes before the event, the altcoin was hovering around $1,595.03 and undergoing immense selling pressure just hours prior to the merge. Not only are retail investors eyeing the altcoin but also institutional investors.

The transition would be seeing the Ethereum Network flood with Institituitional investors as the Ethereum Blockchain will have ticked all the requirements fit for institutional investment. Speaking of scalability, efficiency, and environmental friendliness.

Co-founder at digital-asset platform Satori Research, Teong Hng said;

“The market is pricing in a virtually successful Merge to happen. For institutional investors, ones who are ESG conscious, they will use this as an opportunity to dip their toes into blockchain, into tokens, into Ethereum.” in a report with Bloomberg.

Ethereum’s ability to host smart contracts makes it the perfect haven and ideal blockchain for several applications involving dApps, DeFi, and other things.

Will the Merge be a “Sell the News, Buy the Rumour” Event?

Analysts and Experts believe the merge will be a ‘sell the news event which will see Ethereum’s price slowly plummeting with time. Despite the long gain rally of up to 90% since June 2022, global macro factors would overshadow the Merge excitement which may lead to immense selling pressure on the world’s second-largest cryptocurrency.

However, other analysts have taken a bullish sentiment predicting that Ethereum will strike the $3000 mark by end of the year. This means that Ethereum will have to make a 100% gain from the current price levels.

BitMEX founder and CEO Arthur Hayes is steadfastly bullish for ETH as he expects ETH to touch $3,000 by the end of the year.

I have bought calls for $3000 by the end of the year. I am not worried about the FED because even if the FED raises rates by 20%, there will be a certain amount of demand for $Eth to use the dApps and the supply isn’t there to meet it!

Additionally, “The flows are guaranteed as long as the merge is successful!” he added.