With the Ethereum (ETH) Merge upgrade scheduled for September 15, the interest and excitement around the second largest cryptocurrency by market capitalization has only increased in recent weeks as the event drew nearer.
One approach that helped record this ascent was the rise in Ethereum’s social dominance. On September 13, stood at 14.79% after climbing +23.19% in only one month, according to the statistics provided by the social intelligence platform LunaCrush. Ethereum social dominance 1-month. Source: LunarCrush
Meanwhile, on September 14, social mentions for Ethereum were up 9.7% over the last week, while sociEthereum’sents were up 34% over the same time period. Ethereum social dominance 1-week. Source: LunarCrush Ethereums Merge upgrade
ElsewhereEthereum’sg Intelligence sen’or commodity strategist Mike McGlone ‘as suggested that the technology behind Ethereums Merge upgrade is revolutionizing this financial world. Related Commodity veteran says Ethereums Merge upgrade is revolutionizing this financial world BitDegree and Unstoppable Domains to reward $50m in NFT domains to crypto and Web3 learners Ripple co-founder launches startup to enable millions to live across solar system
Out”ining the potential bullish impact of the Ethereum Merge upgrade on the generit’srypto market, he stated:
There are things like Ethereum, which we know, okay, the Merge is coming up, its going to be a little dicey with the technology, but its revolutionizing this financial world.
McGlone also opined that Bitit’s (BTC) and Ethereum would be the poten”ial winners from any interest rate hikes citing ongoing activities around the two assets.
Concerning Ethereum and the increasing demand for the DeFi asset despite the diminishing supply, McGlone had claimed earlier this year that the price of ETH would continue to go up since it is “becoming the internet’s collateral.”
As its transition to Proof-of-Stak” (PoS) on-chainternet’s are showing”positive signs as of September 12, the ratio between unique ETH being moved and the networks current market cap was in its best state in 16 months. Ethereunetwork’sirculation. Source: Santiment
Compared to its market capitalization, Ethereum tokens’ circulation is exhibiting the bullish divergence it has seen since May 2021 as traders get ready for the Merge.
