According to “Ethereum The Merge Countdown” data on OKLink, Ethereum Merge progress is 96.55% complete. The network hashrate has dropped below 900 TH/s, but is still above the ideal level. The latest development confirms that Merge will take place on September 15.
Also, Ethereum core developers confirmed the final mainnet terminal total difficulty (TTD) of 587500000000000000000000 during Thursday's Core Developers Meeting. This means that Merge will go live on September 15 in the next 27 days.
According to “Ethereum The Merge Countdown” data from blockchain explorer OKLink, Ethereum Merge progress is now 96.55% complete. The Ethereum network hashrate has dropped below 900 TH/s, which is currently around 885.23 TH/s. If the hash rate stays around 879 TH/s, the Merge is likely to happen on September 15.
Also, Ethereum co-founder Vitalik Buterin had previously confirmed that the exact date depends on the hash rate. The Ethereum network needs an average hash rate of 872.2 TH/s to reach 587550000000000000000000 TTD on September 15 at 04:44 UTC.
The mainnet is set to merge with the Beacon Chain triggered by a TTD at 587500000000000000000000. It will automatically migrate Ethereum to PoS without any disruption to the blockchain. At the Ethereum Core Developers meeting on August 18, the developers confirmed the final mainnet TTD of 5875000000000000000000000.
The developers also discussed preparations for the Bellatrix and Paris upgrades. The dates for the Bellatrix and Paris upgrades are September 6 and September 15, respectively. Successful implementation of upgrades could boost Ethereum (ETH) prices before the PoS transition.
Once all preparations for Ethereum Merge are complete, Ethereum (ETH) price may witness short-term gains before it pushes higher. Ethereum core developer Tim Beiko confirmed on Thursday that the Merge Mainnet Readiness Checklist has been completed. Furthermore, the Ethereum Foundation confirmed that there were no changes in gas fees, transaction speed, and ETH staking and withdrawals after the Merge.
As a result, the price is failing to show upside momentum. Also, Ethereum will become a deflationary asset after Merge. Investors can only expect a real rally after the Surge, Verge, Purge and Splurge phases are completed. Ethereum (ETH) price will remain volatile until then, according to crypto analysts.