Ethereum “Merge” upgrade scheduled for 19 September
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Ethereum trades between the upper blue and red bands in its bullish area. One influence is the decline in the USD. However, another positive is that the blockchain network is due for an imminent upgrade. Goerlie, one of the blockchain's largest test networks, switched to proof-of-stake (POS) processing from proof-of-work (POW).
The market is watching because POW is energy-intensive, and the switch may solve this. Instead of intense energy usage to validate the network, POS requires tokens to validate the network. The upgrade is known as the "The Merge", and the whole network switch is scheduled for September 19.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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