PoW Miners Rake in Profits Mining ETH Until the End, Ethash Networks Expect a Boost, JPMorgan Strategists Say ETC Could Benefit

In just over a month's time, The Merge is likely to be implemented on the Ethereum blockchain and the network's proof-of-work (PoW) miners will be forced to mine another coin. So far, it seems ethereum miners are sticking with the PoW Ethereum chain until the very end as profits have increased.

Timeline of Ethereum-classic, Ethereum

The Ethereum (ETH) blockchain's potential effects on scaling solutions are being examined by cryptocurrency exchange Coinbase. Layer-2 scaling solutions (L2s), according to a study by Coinbase, may reduce Ethereum's earnings.

This summer has been a difficult time for the crypto market. Crypto users would have seen the rapid decline in prominent cryptocurrencies such as Bitcoin (BTC), Solana (SOL) and Terra (LUNA) - a daunting time for buyers.

With almost 100% gain over the last month by Ethereum(ETH), prices challenge the $2000 psychological mark in an attempt to reclaim the 200-day EMA slope. Moreover, the bullish crossover of the EMAs projects a potential of an uptrend continuation teasing a rounding bottom breakout.

In 32 days, Ethereum is expected to upgrade from a proof-of-work (PoW) consensus algorithm to a proof-of-stake (PoS) system after the network used PoW for seven years. While the testnets have implemented the new rules, most people envision a relatively smooth mainnet transition.

Ethereum price analysis is bearish today as we have seen a failure to move any higher after a brief test of the previous high. Therefore, ETH/USD is likely ready to reverse and start heading back lower early next week.

Crypto prices rallied following positive economic data as the Ethereum merge looms large on the horizon. The post Ether leads the charge as crypto prices surge: the week in markets appeared first on The Block.

While it's hard to guess what might happen next in crypto, here are the three biggest stories we expect to set tongues wagging next week.  The post The week ahead's three biggest cryptocurrency stories appeared first on The Block.

Recently, Russian-Canadian programmer Vitalik Buterin, the creator of Ethereum ($ETH), commented on the upcoming “Merge” hard fork, which is when the Ethereum network is making the transition from proof-of-work to proof-of-stake.

Many of the leading cryptocurrencies experienced double-digit weekly percentage gains despite the ongoing cryptocurrency bear market. In anticipation of the Ethereum merger, top coins increased. After peaking at $2,012 late on Friday night, the price of Ethereum has increased 16% in the past week to $1,986 at the time of writing.

The recent presale sell-out of GNOX tokens is rumored to have been caused by whales from Ethereum and Solana. Gnox's project team had initially set a hard cap for the token sale, but due to overwhelming demand, they increased the cap. However, even this wasn't enough as the sale sold out within a few hours.