ETHEREUM MERGE EVENT IS ABOUT TO HAPPEN ON UPCOMING WEDNESDAY OR THURSDAY

After selling off roughly 10% on Tuesday following the August inflation data, prices for the two biggest cryptocurrencies by market cap inched higher.

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Bitcoin gained roughly 0.64% Wednesday to trade at $20,271.80, and ether climbed 1.76% to $1,602.38.

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The merge will transform Ethereum from a proof-of-work to a proof-of-stake consensus mechanism,

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Which means gas fees, or the cost per transaction, will come down.

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ETHEREUM MERGE EVENT IS ABOUT TO HAPPEN ON UPCOMING WEDNESDAY OR THURSDAY

After selling off roughly 10% on Tuesday following the August inflation data, prices for the two biggest cryptocurrencies by market cap inched higher.

Bitcoin gained roughly 0.64% Wednesday to trade at $20,271.80, and ether climbed 1.76% to $1,602.38.

The merge will transform Ethereum from a proof-of-work to a proof-of-stake consensus mechanism,

Which means gas fees, or the cost per transaction, will come down.

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And the network will be able to process more transactions in a shorter amount of time.

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"The way to think about the merge is simply as a shift in the way transactions are validated on Ethereum," Ari Redbord