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Three pivotal events in September are set to set the pace for the cryptocurrency market for the rest of the year and beyond. These events can lead to “bitcoin flipping”.
One of the key elements is the indemnification of Mt Gox creditors. 2014 saw one of Bitcoin’s most famous exchanges, Mt. Gox, suffer a daring hack, and a cryptocurrency scammer massively bottled up his 850,000 BTC, leaving investors out of control. It will always be engraved in your heart. In early June, officials announced that rehabilitation would begin in late August.
A week ago, rumors circulated that 137,000 BTC would be released for compensation at once, prompting the rise of Havoc in the cryptocurrency Twitter community. Such a move has struck fear in the cryptocurrency community as it means that those who are indemnified may choose to ditch Bitcoin once they have it. This means that the Bitcoin price may fluctuate shortly after the regeneration process, set for September 15, 2022, begins.
The second significant event is the most anticipated event on the Ethereum blockchain called the Ethereum Merge. This event transitions the transaction validation process from Proof of Work to Proof of Stake. The enchanting event will take place on his September 15th.
Widely known for running smart contracts, the Ethereum network, which dates back to 2013, plans to efficiently improve transaction speeds to up to 100,000 transactions per second. This increased transaction speed also minimizes gas charges (the fees paid to complete transactions on the network).
   
Currently, the Ethereum blockchain can process up to 30 transactions per second. But the faster the transaction speed, the more transactions in total, and the lower your gas bill.
Buterin is ethereum merge Ethereum’s carbon footprint is also reduced by 99.5% as fully migrated merges require less power to validate transactions. Also, blockchain does not require validators to solve complex equations like his current Ethereum network, which runs on PoW.
Interestingly, as Buterin said at a community meeting on July 22nd, the integration is only 55% complete, adding that full integration will take place in the second half of 2023.
The Cardano Vasil upgrade is also one of the major events in the cryptocurrency world. The event, named after renowned Cardano ambassador and Bulgarian mathematician Vasil Dabov, was originally scheduled for June this year, but Postponed It is scheduled for September 22, as announced by Charles Hoskinson.
The Vasil upgrade is the third phase of the Cardano roadmap and will improve usability and scalability of the network. In Goguen’s time, Cardano received his Alonzo upgrade on September 13, 2021, creating a path for users to create decentralized applications for the first time in his ADA history. In the Goguen era, users will be able to create new tokens, increasing their usefulness. With the end of the Gogen Era, Cardano will become a smart contract-based decentralized public key figure.
The next and fourth era on Cardano’s roadmap will be the Basho Era and will see the network improve its growth and adoption. Sidechains are great as a mechanism, increasing the capacity of the network by offloading work from the main chain. In this era, the Cardano network will be split into smaller blocks of data, resulting in faster speeds and more transactions.
In the last days of Cardano, a treasury system was added, and for every transaction on the Cardano blockchain, a portion of the fees will be transferred to treasury for development on the blockchain.
September is set to mark a massive shift in the crypto community as the two networks reach their maximum development. expect to soar.
In a recent price forecast by Bloomberg, analyst Mike McGlone said Ethereum will accelerate to $4,500 by the end of the year. As for Cardano, Benjamin Cowen, who is widely known on YouTube as he has 767,000 followers, predicted that the ADA price could go above $0.6 due to an upgrade.
