In a year, people have searched for Ethereum the second most. This is true even though the crypto market is in a bear market. Ethereum seems to be catching up to Bitcoin in terms of how popular it is and how much people want it. But it’s still not clear why users suddenly want to search for Ethereum.
One reason could be that the Beacon Chain testnet just went live. Yesterday, the Sepolia testnet beacon chain went live. This brought Ethereum one step closer to the next phase of its journey. The event will give the developers a chance to practise the merge and give them the information they need about the merge.
The Sepolia testnet will switch from proof-of-work to proof-of-stake after the trial merge. This will give you a general idea of what will happen when the Ethereum mainnet merges. The much-anticipated Merge is said to reduce Ethereum’s energy requirements by 99 percent.
In other news, the search term “Bitcoin Dead” seems to be on the rise on Google. People are looking for “Bitcoin dead” on Google because they are worried about the bear market. Since Terra, one of the most well-known cryptocurrencies, went to zero in just a few days, there have been more rumours about Bitcoin and other cryptocurrencies.
Most likely, Ethereum’s Merge will happen in August. In particular, the switch to Ethereum Merge could be hard for miners because the ecosystem will move away from proof-of-work.
The bear market has been hard on crypto companies, investors, and employees. Several crypto companies let go of hundreds of workers quickly, citing the harsh and extreme market conditions as the reason. The future of the market is not clear right now.