Ethereum Prepares For Ropsten Testnet Merge As Token Struggles To Hold $2k Support
2022年5月20日 - 1:45AM
NEWSBTC
The Ethereum 2.0 update is generating a lot of buzz and interest,
and we’re getting closer to its launch than ever before. Ethereum
2.0 Goes To Testnet Testing for Ethereum’s long-awaited Merge is
progressing, though not at the rate that many had hoped. Testing on
Ropsten, Ethereum’s largest and primary testnet, which has the
closest similarity to the mainnet, is the next key milestone in the
Merge testing process. Ropsten testing will be merged on June 8,
according to Ethereum client developers. Although there is no
official indication on when the Merge will take place on mainnet,
it is expected to happen in the second part of this year. On
Monday, Ethereum DevOps developer Parathi Jayanathi submitted a
pull request for the Ropsten testnet Merge configuration code,
indicating that it is ready for implementation. The Merge is
Ethereum’s long-awaited upgrade, in which the current Ethereum
Mainnet and the beacon chain PoS system will merge. Because it has
a comparable network structure to the Ethereum Mainnet, this
testnet is considered the best replication. Developers may now
perform realistic deployment testing before making changes to the
mainnet. The Ropsten testnet Merge will combine the proof-of-work
(PoW) network with a new proof-of-stake (PoS) consensus layer
testnet, with a May 30 launch date. It will simulate what will
happen when Ethereum and the Beacon Chain merge and the network
becomes a PoS network. Related Reading | New Data Shows China Still
Controls 21% Of The Global Bitcoin Mining Hashrate Testing how the
merge would work on Ethereum’s main public testnet would be one of
the final assessments. As a result, the Ropsten public testnet is
regarded as the most accurate clone of the Ethereum Mainnet, as it
uses a similar network structure and allows developers to test
their work in a live environment. Online, community developers have
expressed their enthusiasm for the testnet announcement. According
to Preston Van Loon, an Ethereum core engineer at Prysmatic Labs:
Ropsten testnet is getting merged on June 8! Merging Ropsten is a
huge testing milestone towards Ethereum's mainnet merge later this
year. 🎉 https://t.co/X7eLIMA72g — prestonvanloon.eth @
Permissionless (@preston_vanloon) May 18, 2022 Price Fails To Hold
$2K ETH is dropping inside a falling wedge on a daily time frame
(in yellow). It’s worth noting that the wedge bottom is lined with
the $1700 horizontal support level (in green), which could signal a
trend reversal. As a result, if the bulls can hold the green zone,
the price will be more likely to rise towards the $2450 level of
static resistance. The price is more likely to begin a protracted
regression phase if the bears continue to suppress the market and
breach below the green support zone. ETH is trading on dynamic
support (in green) against Bitcoin, which has blocked additional
price decreases four times in the past. The world’s second-largest
cryptocurrency, down 4.1 percent in the last 24 hours to US$1,974,
has lost 48% of its value since 2022. ETH/USD trades below $2k.
Source: TradingView And crypto investors who bought on November 16,
2017, when the Ethereum price was at an all-time high of US$4,892,
will have lost just over 60% of their investment. Ethereum’s market
cap has decreased to US$236 billion from well over half a trillion
dollars at its height, despite maintaining its number two position.
Related Reading | Bitcoin Indicator Hits Historical Low Not Seen
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