Ethereum Now Has 27K Blocks Left Before The Merge

Ethereum Now Has 27K Blocks Left Before The Merge
  • Ethereum now only has over 27,000 blocks remaining before The Merge.
  • September 15 remains the tentative date of The Merge.
  • Ethereum holders will decide whether ETH will moon or crash once The Merge has occurred.

The Ethereum network now has only over 27,000 blocks remaining before its most anticipated transition into Proof of Stake (PoS). 

In detail, Ethereum is at block no. 15,508,871, at the time of writing. Given that the network expects The Merge to happen at block no. 15,536,905, September 15 is the tentative date. This is because it takes around 10 seconds for the network to discover and validate a new block.

The anticipation surrounding Ethereum’s PoS transition has caused many to make bullish statements regarding the eventual price of ETH. However, to put things into perspective, changes in ETH price will only be a consequence of The Merge and not the other way around.

Regardless, the price of Ethereum has started to recover after a market bloodbath a couple of days ago. At the time of writing, ETH is changing hands at $1,725.45, according to CoinGecko. This translates to a 7-day gain of 9.5%.

ETH/USDT 4-hour chart (source: TradingView)

As seen on the chart above, Ethereum has been following an uptrend since the end of August. However, $1,700 is the most crucial resistance level to observe, as this has proven to be formidable since last month. The market will probably decide whether ETH will moon or crash after The Merge has occurred.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.