Following the successful introduction of the Ethereum “Merge” on the Kiln testnet on March 15, the Ethereum community is now anticipating the switch to proof-of-stake (PoS). According to Google Trends, the amount of online searches for the keyword “Ethereum Merge” has reached all-time highs.
One method traders keep an eye on new trends and sector rotations in the cryptoverse is to analyze Google Trends data. Searches for “Ethereum Merge” have increased substantially, according to Lucas Outumuro, the head of research at IntotheBlock, indicating that widespread interest and optimism in ethereum (ETH) is growing. The keyword got a perfect 100 on Google Trends, indicating highest relative interest.
In terms of region, Canada leads the globe in Google searches for “Ethereum Merge,” followed by Australia and the United States. Curiosity converting into buy-ins might start a new parabolic bullish trend for Ether as a result of the soaring demand.
Following the end of the Kiln testnet, all eyes are on the impending Ethereum protocol change.
Ethereum has a history of delays, but it appears like the projected Q2 launch date will be met for the first time. Proof-of-stake is expected to make ethereum more scalable and cut its energy usage by 99.95%.
More institutional investors will flock to the Ethereum ecosystem, as all of the worries about mining’s energy usage will be addressed.
Enthusiasts feel that the Merge event has not yet been priced in, and that it will help ETH skyrocket in price once it is released in June.
The shift to the consensus layer (formerly known as Ethereum 2.0) must, however, take place within the timeframe indicated by developers, since any more delays might cause the market to lose trust in ETH.
Overall, 2022 is expected to be Ethereum’s most pivotal year to yet. As of publishing time, ETH is trading at $3,143, up 0.87% in the last 24 hours.
According to Bloomberg expert Mike McGlone, ETH might approach $4000-$5000 by the end of the year if all goes well with the smart contracts big gun and the switch to PoS goes smoothly.
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