- The Ethereum Ropsten Merge testnet's first upgrade is scheduled for June 2, and will be complete on June 8.
- Ethereum Merge could reduce the altcoin's issuance by 90%, Bloomberg analysts argue this could fuel an Ethereum rally.
- Triple Halving narrative could play out on the successful completion of the merge, pushing Ethereum price to its $10,000 target.
Ethereum Ropsten Merge testnet is drawing closer, expected to be completed on June 8. Proponents expect the successful completion of the merge upgrade to influence the altcoin's price positively and push it to a $10,000 target, based on the Ethereum Triple Halving narrative.
Also read: When is the Ethereum Merge happening?
Ethereum Ropsten Merge testnet starts on June 2
Vitalik Buterin, the co-founder of Ethereum, told the community at the recent ETH Shanghai Summit that the Ropsten Merge testnet is the most critical milestone for developers. The successful completion of the merge upgrade scheduled for June 2, 2022, will be key to the journey of Ethereum's transition from Proof-of-Work to Proof-of-Stake.
In a recent tweet, Colin Wu, a Chinese journalist, has reported details of the execution layer transition from Proof-of-Work to Proof-of-Stake.
The Ethereum testnet Ropsten will start the merge upgrade on June 2, which will be the first testnet to achieve the merge. The execution layer transitions from POW to POS at the specified Terminal Total Difficulty (TTD). The testnet merge is expected to be completed on June 8.
— Wu Blockchain (@WuBlockchain) May 31, 2022