Ethereum blockchain is slated for one of the biggest updates since its inception, as it will transition to a proof-of-stake (PoS) mining consensus from its current proof-of-work (PoW) one.
The Merge date is scheduled for Sept. 15, after the successful Goerli test net integration — the final test net merger before the actual transition. Ether (ETH), the native token, was on a bullish surge after the announcement of the Merge date in July with the ETH price rising to a new six-month high of over $2,000 but failed to consolidate the critical resistance.