The pencilled-in preliminary date for The Merge, revealed by the Ethereum developer Superphiz, is less than two months away and the announcement seemingly caused a number of developments to happen. First off, the network’s native token ether saw a significant spike in value and secondly, Ethereum’s hashrate has dropped 18.21% since June 30. Data also shows that the number of ethereum stored on exchanges has seen a massive drop, as roughly 25.13 million ether was once held on exchanges on July 5, and today there’s only 22.77 million worth close to $35 billion.
Data Shows Significant Amounts of Ethereum Have Been Withdrawn From Centralized Exchanges
On July 9, 2022, Bitcoin.com News reported on the delayed difficulty bomb and the fact that The Merge would be pushed back at least until September. The Merge is basically the upgrade that finally transitions the Ethereum (ETH) network from proof-of-work (PoW) to proof-of-stake (PoS).
There are now two chains, with one that still leverages...
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