Is Ethereum worth buying after the successful merge on the Kiln testnet?
On March 15, the Ethereum merge successfully took place on the Kiln Testnet.
The Ethereum foundation asked the stakeholders to carry out tests on Kiln.
This Merge will also take place on the existing testnets within the upcoming months.
Ethereum (ETH) is the second-largest cryptocurrency in terms of market capitalization and is by far the most popular blockchain network, on top of which many developers build decentralized applications (dApps).
You will also find a lot of altcoins developed on top of the Ethereum blockchain, and it has paved the way in the early days for Decentralized Finance (DeFi)/
The successful merge on the Kiln testnet as a catalyst for growth
The Ethereum Foundation made an official announcement where they noted the successful "Merge" that took place within the Kiln testnet. This is essentially the final public testnet prior to the transaction to Proof-of-Stake (PoS), which is expected to occur throughout 2022.
Specifically, this Merge took place within the Kiln testnet, according to blockchain data within the testnet, on March 15. Through this, the beacon chain essentially merged with the Kiln testnet.
Kiln is essentially the final public testnet prior to the transaction to Proof-of-Stake (PoS), which will occur throughout 2022.
As such, this marked a major milestone for the overall development of the Ethereum network, which is preparing to go through with the biggest change since its creation.
The Ethereum foundation carried on by asking stakeholders to run tests on Kiln as a means of ensuring that the transaction was smooth.
Should you buy Ethereum (ETH)?
On March 16, 2022, Ethereum (ETH) had a value of $2,677.78.
To get a better perspective as to what kind of value point this is for the Ethereum (ETH) token, we will be going over the token’s all-time high point of value, alongside the performance the token has showcased throughout the previous month.
When we go over the all-time high value of the Ethereum (ETH) token, it was on November 10, 2021, when it reached a value of $4,878.26. Here, we can see that at its ATH, the token was $2.200.48 higher in value or by 82%.
With that in mind, when we go over the performance of the token throughout the previous month, we can see that its highest point was on February 9 at $3,257.68.
Its lowest value point, however, was on February 24, when the token decreased to a value of $2,336.87.
Here, we can see that the token decreased by $920.81 or by 28%. With this in mind, we can expect the ETH token to reach a value of $3,000 by the end of March 2022, making it a solid token to buy.