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Investing.com – Mark Cuban has long been an advocate for cryptocurrencies like Ethereum. But that wasn’t always the case, because he was the one who said bananas were more useful than .
In the meantime, he has even become a great defender of the and when his basketball team, the Dallas Mavericks, plays, you can even buy hot dogs with this cryptocurrency.
Cuban is also in favor of the development of the second largest cryptocurrency in the world, the. This is due in the first place to the fact that the blockchain will soon manage to reduce energy consumption by a factor of 1000. Added to this is the fact that Ethereum is the largest smart contract platform in the world. According to DeFiLIama, the network represents 58% of the total capital (TVL) committed to DeFi projects.
Yesterday, the Ethereum Foundation announced that the Bellatrix upgrade will be enabled for the merger launch on September 6th. Between September 10 and 20, the actual merger will then be triggered when a previously defined Total terminal complexity level is reached. Difficulty is reached:
“The successful upgrade of all public testnets is now complete, and the merge for the Ethereum mainnet is planned. The merge is a two-step process. The first step is a network upgrade, followed by moving the execution layer from proof-of-work to proof-of-stake.
Merge time is determined by a Terminal Total (EPA:). Difficulty (TTD) of 5875000000000000000, which is expected to be triggered between September 10 and September 20, 2022. The exact date when the TTD will be reached will depend on the proof-of-work hash rate.”
Even though everything is already ready for the merge, the developers shouldn’t have a minute’s respite beforehand. The Ethereum Foundation has offered rewards of up to $1 million for finding critical bugs.
Ethereum Technical Benchmarks
The has risen by 3.23% in the past 24 hours to $1708, but on a weekly basis the cryptocurrency is recording a loss of -7.99%.
The August 19 drop was met with good support at the 61.8 percent Fibo retracement area of $1582. The bulls managed to prevent a sustained drop below this level, which led to a rally.
The next immediate resistance is at the 78.6% Fibo retracement at $1772. This is reinforced by the psychologically important threshold of 1800 dollars. If we manage to cross it, the upward movement may extend towards the psychological threshold of 2000 dollars.
Only if the bulls fail to defend the 61.8% Fibo retracement any longer should losses be expected towards the 50% Fibo retracement of $1449.
By Marco Oehrl