The introduction of new technologies and upgrades are some of the factors that are anticipated to work in favor of the ETH token’s price. The overall crypto market has been moving downwards without any indication of complete price recoveries at the moment. However, the crypto space is known to be unpredictable, which is why many crypto enthusiasts are also optimistic regarding the future of crypto assets.
It has also been reported that after the Ropsten testnet, the next Sepolia testnet is now ready for a merge trial run. The Beacon Chain is now live and will provide essential information to developers that will eventually lead up to the real deal.
Since the Ethereum network is famous for its technological upgrades, many are left to wonder if this will have a positive impact on the price of ETH. Let’s find out more details below.
Meanwhile, if you are interested in buying the popular altcoin then make sure you take a look at the Ethereum price prediction first and then invest.
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Details of the New Testnet
The next testnet ready for a trial merge with the Beacon Chain after the Ropsten testnet is called Sepolia. This testnet has gone live and is anticipated to provide ample technical information and insights to the Ethereum network developers.
Once the Sepolia testnet is merged with the Beacon Chain it will begin reaching consensus using the proof-of-stake (PoS) instead of proof-of-work (PoW). This will help developers in determining the outcome when the Ethereum mainnet merges.
Testnet merges are crucial for Ethereum and independent project developers. They help the experts in getting an idea of what to expect when the actual merge takes place.
Just like the testnet merges at the moment, the Ethereum mainnet merge will also focus on shifting from PoW to PoS. This will reduce Ethereum’s energy consumption by 99.9%.
Sepolia was launched in 2021 and was designed to replace Ropsten with time. Testnets such as these are meant to mimic the operating conditions of their mainnets without impacting the live mainnet in any way.
While the exact date for the Sepolia testnet has not been revealed yet, it is anticipated to take the Ethereum network a step closer to the main event.
The ETH token is currently trading at $1,155 (at the time of writing). Here is a graph by CoinMarketCap that shows the price movement of ETH over the last 24 hours.
While the price movement seems to be in the green in the graph seen above, the asset has seen a price drop of 4.34% over the last seven days. Therefore, whether the price of ETH will be positively affected by the completion of the merge or not is yet to be seen in real-time.
However, if you want to invest in ETH then make sure you opt for the lowest fee exchange to buy Ethereum that suits all your needs as well.
Tips for New Crypto Investors
People looking to invest in digital assets such as Bitcoin or Ethereum should take their time and get to know as much as possible about the crypto space. Several aspects need to be considered before a novice party starts investing in digital assets.
Therefore, if you are also a beginner and want to invest in ETH then here are some helpful tips to know.
- Choose the best exchange to buy Ethereum that offers security and ticks all the right boxes for you in terms of available features.
- Monitor the price movement of ETH or any other digital asset you are interested in before you buy.
- Know when to invest.
- Start by investing a small amount.
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