--- title: "Ether Price Falls After “Merge” to Cut Its Environmental Toll" description: "The Ethereum blockchain has finally completed its long-awaited \"Merge,\" switching from a proof-of-work to proof-of-stake system." date: "2022-09-15" modified: "2022-09-15" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/ether-price-falls-after-merge-to-cut-its-environmental-toll" categories: - "Environment" - "Science & Energy" tags: - "cryptocurrencies" - "ethereum" - "the digest" --- # Ether Price Falls After “Merge” to Cut Its Environmental Toll ![The Ethereum blockchain has finally completed its long-awaited "Merge," switching from a proof-of-work to proof-of-stake system.]() *\Image: Coindesk/Futurism\* ## Post-Merge The Ethereum blockchain has finally completed its [long-awaited "Merge]()," switching from a proof-of-work to proof-of-stake system, a change that has allowed it to become substantially more environmentally friendly. It's a pivotal moment in the history of the tech, with experts hailing it as the "biggest event in crypto since the creation of bitcoin and Ethereum," as Jon Charbonneau, a researcher at crypto research firm Delphi Digital, [told *The Wall Street Journal*](). The price of ether, however, isn't looking too hot following the merger. The cryptocurrency fell about seven percent since the merge *—* not unusual in the volatile world of crypto, but possibly not a great sign for the future of blockchain's environmentally friendly experiment. ## New Reality It's not all doom and gloom, however. According to the *WSJ*, analysts are expecting ether to recover as investors adjust to the new reality. But they were clearly getting ready for a rough ride in the days leading up to the Merge. A full $1.2 billion worth of ether was moved to centralized cryptocurrency exchanges days prior, [*CoinDesk* reports](), indicating investors were likely getting ready to sell. On the upside, Ethereum's energy requirements are now a fraction of what they once where, with electricity use dropping by a dramatic 99.988 percent, [according to one analysis](). That means its carbon footprint has now shrunk by 99.992 percent as well. That'd be a massive windfall for the environment, considering Ethereum mining operations were estimated to be using [as much electricity per year as the entirety of Bangladesh]() pre-Merge. But it'll be interesting to see what happens next. **More on the merge:** *[Crypto Miners Terrified by Ethereum's Imminent Move to Proof of Stake]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()