Lower than an hour after Ethereum (ETH) accomplished the Merge; a person spent 36 ETH — roughly $60,000 — to mint the primary NFT on the proof-of-stake (PoS) community.
The NFT was minted at a Block top of 15537394 and is tagged “The Transition.” The NFT is a part of a panda face assortment commemorating Ethereum’s transition to PoS. The gathering might be discovered on OpenSea.
The gathering’s flooring value is 0.6 ETH.
Whereas some customers said the Merge had modified nothing concerning the community’s excessive fuel charges, the Ethereum Basis beforehand clarified that the Merge wouldn’t scale back fuel charges, nor wouldn’t it make transactions sooner.
In accordance with the Basis, the Merge is a “change of consensus mechanism” and “not an enlargement of community capability.”
Nonetheless, different infrastructural developments and scaling options deployed post-merge will ultimately assist scale back the community charges.
In the meantime, Ethereum’s migration to PoS would drastically scale back its vitality consumption by as much as 99%, thereby drawing extra institutional traders who had shied away from the asset on account of environmental considerations.
Ultrasound.cash knowledge additionally confirmed that Ethereum’s provide has been deflationary because the Merge went reside. In accordance with the tracker, round 180 ETH has left the community because the Merge.