ETHHub co-founder sassal.eth tweeted that the Ethereum Goerli testnet will undergo a merge transition around August 8-10, which will be the last public testnet to pass the transition. If all goes well with the Goerli testnet merger, a mainnet merger in mid-to-late September is highly likely. According to previous news on July 19, the Ethereum Goerli testnet will be merged on August 11, and the TTD (total difficulty of termination) of the Goerli merger is expected to be selected early next month. In addition, it is expected that the Bellatrix upgrade may be brought forward to August 4th, with TTD appearing on August 10th.
ETHereum has been the clear leader in this “mini-bull run,” driven by further clarity on the merger, Singapore-based cryptocurrency trading firm QCP Capital said in its weekly market update this week. The firm also said that positive macro factors played a role in the cryptocurrency rally.
Chicago-based Cumberland echoed the sentiment, saying it noticed an increase in OTC business, with institutional buyers long ETHer ahead of the merger. Jonah Van Bourg, head of trading at Cumberland, said the move reflects the incentive structure of every volatile asset, noting that "it's always easier to buy on a rally than on a dip."
In the secondary market, the current ETH price may continue to consolidate in the short term, with support at $1,500 and resistance at $1,700.
