Ethereum Mining Giant Launches Staking Pool Service Ahead of The Merge
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This move comes as crypto projects rush to lay the groundwork for a smooth transition to a Proof-of-Stake system (PoS), the most ambitious transition on record in the crypto space for Ethereum and its users. With September 14, the launch date for The Merge fast approaching, Ethermine has announced its Ethermine Staking platform. The mining pool recently announced via a tweet:
“We are proud to announce Ethermine Staking! Ethermine Staking is an investment based on ETH_STORE, an objective and transparent reference rate based on Ethereum Proof-of-Stake. Invest as little as 0.1 ETH.”
The mining pool has clarified where it stands on the idea of forking the network, asserting that would not support any hard fork. The giant pool also announced that it would halt its mining pool before the mainnet Merge event.
Ethermine Staking allows users to lock up a minimum of 0.1 ETH (worth about $159 using current exchange rates). However, solo staking on the platform would require at least 32 ETH ($51,000).
Key Ethereum Levels to Watch — August 31
Despite its fast-approaching upgrade launch, Ethereum continues to struggle with mounting bearish bias due to the spillover effect from the broader market sentiment. Over the past 48 hours, the blockchain ecosystem cryptocurrency has struggled with the $1,600 resistance.
If my 4-hour channel and chart are anything to go by, the cryptocurrency is on the verge of a massive dip to the $1,400 support area. However, this projection can be negated if the cryptocurrency takes the $1,600 mark in the near term. Can Ether manage a 4% bullish breakout soon to save its skin from $1,400?
Meanwhile, my resistance levels are $1,600, $1,700, and $1,800, and my support levels are $1,500, $1,400, and $1,265.
Total Market Capitalization: $988.6 billion
Ethereum Market Capitalization: $193.6 billion
Ethereum Dominance: 19.5%
Market Rank: #2
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