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Cryptoverse: After Merge, ether heads for a $20-bn Shanghai splurge

The next significant upgrade for Ethereum is the 'Shanghai', expected by market participants in around six months' time, which is aimed at reducing its high transaction costs


Photo: Reuters

The Merge came, saw and conquered. Not that you'd guess from crypto prices.
The Ethereum blockchain's mega-upgrade finally went live on Sept. 15, moving it to a less energy-intensive "proof of stake" (PoS) system with hardly a hiccup.
Even though anticipation of the event had seen ether rise about 85% from its June doldrums, it has since sunk 19%, hit along with bitcoin and other risky assets by investor angst over inflation and central-bank policy.
Nonetheless, many market players are bullish about the long-term prospects of Ethereum and its native cryptocurrency.
"Previously, we have talked to sovereign wealth funds and

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First Published: Sep 20 2022 | 3:49 PM IST

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