Ethereum co-founder Vitalik Buterin said that the long-awaited merger is likely to take place on September 19 and will not be a final move to PoS, despite the merger of the core Ethereum network and Beacon Chain.
In terms of market reaction, prices are unlikely to rise before or after the merger. The delayed effect will manifest itself 6-8 months later, when Ethereum demonstrates its deflationary properties.
The fact is also that Ethereum developers are likely to open withdrawals after the so-called purge update. The issue of new ethereum will continue only after this stage.
In addition, the supply will shrink as a result of EIP-1559 burning ETH instead of giving tokens to miners.
ETH stacking will also likely be blocked until Ethereum developers complete the cleanup update. However, some exchanges, such as Coinbase and Kraken, say they will allow ETH to be traded before the 6-month period expires.
Meanwhile, the price of Ethereum Classic (ETH) is rising as miners began to switch to the blockchain even before the merger. The AntPool mining pool also promises support for the “classic” blockchain.