This September, the cryptocurrency sector is witnessing some of the most momentous events that it has ever seen. Here are some of the most important events occurring in the world of cryptocurrencies this month:
The Ethereum Merge
The data stored on Ethereum‘s mainnet will be moved to the beacon chain during The Merge, which is likely to be the most significant event in the history of cryptocurrencies. After The Merge, the beacon chain will become the primary blockchain used by Ethereum’s network.
In preparation for the Merge, engineers working on Ethereum have been putting the new blockchain through its paces by passing data and transactions across it on a number of different testnets operated by Ethereum. Not just Ethereum, but the whole of the cryptocurrency sector will be impacted as a result of this occurrence. It is anticipated that it will take place between the 10th and 15th of September.
Cardano Vasil Hard Fork
The Vasil upgrade is a highly significant piece of work being done to the Cardano network in order to improve both its usability and its capacity to scale. To put it another way, the Vasil hard fork will enhance the development of smart contracts and decentralized applications, which will lead to an increase in throughput on the Cardano blockchain. The event will take place on September 22nd.
CPI Inflation Data
The cryptocurrency market has been preparing for turbulence in light of this week’s U.S. Consumer Price Index inflation report. On Tuesday, September 13, a higher-than-expected inflation report might put doubt on the crypto market’s recovery. Additionally, it may have an immediate effect on the Fed’s interest rate decision for this month. Most market analysts expect the Federal Reserve to raise interest rates by 75 basis points this month.
