The upcoming Ethereum upgrade has been highly anticipated by investors. The merge is designed to scale the Ethereum blockchain from a proof-of-work network to a proof-of-stake system, which is faster and less energy intensive.
A successful Ethereum merge later this year should give a push to the crypto markets, JPMorgan said. The merge is currently expected in September, depending on how the upcoming Georli testnet performs. That test is scheduled for August 11 and is one of the last steps before the merge.
The ongoing recovery of the crypto market could depend on the upcoming Ethereum merge in the short term as crypto investors look for a much-needed boost in sentiment.
