In the early hours of July 15 2022, Ethereum’s ninth shadow fork went live, causing the price of Ethereum to surge. The most recent shadow fork is one of the final stages before Ethereum’s big merge, which is now scheduled for September 19, alongside various testnet launches.
The Merge is Ethereum’s highly anticipated transition from proof-of-work consensus to proof-of-stake. The change will reduce network power consumption by more than 99%; however, it will not necessarily reduce transaction fees on the network.Nonetheless, the news has also given a boost to some ERC20 tokens (which operate on the Ethereum blockchain) a boost. One token to receive a boost was Gorilix (SILVA) which saw an increase in trading volume and an intraday price bump of 6%, taking its overall presale growth to +250% in the past month.
SILVA which is the native token for Gorilix DeFi is set to launch in September and will take full advantage of the Ethereum Merge as well as other innovative features, including Ethereum’s virtual machine, which will allow the SILVA token to operate on multiple blockchains for increased interoperability and making the token easier to trade in or out of for holders.
Gorilix recently announced Exchange and Gorilix Portfolio, two decentralised apps that will allow Gorilix customers to facilitate seamless cross-chain exchanges of multiple currencies with minimal gas fees and a one-stop tracker that will keep track of all coins and tokens regardless of the blockchain they are on, allowing customers to follow their portfolio and see how tokens are performing efficiently. The Portfolio app will keep track of any changes or developments of contract addresses.
Ethereum’s big merger is being looked at by many as an event that could propel Ethereum to reach new heights, and the price bumps from the shadow forks are currently supporting that narrative. The most recent shadow fork will test the updates made in the Sepolia hard fork, which successfully merged on July 6. It will be interesting to see how the price of Ethereum fares in the coming days, but for now, Ethereum is posting positive growth for the last 24-hour, seven-day and thirty-day periods.
Elsewhere, it appears that, just like Gorilix (SILVA), the boost has been felt across the global crypto market, with the worldwidecrypto market up over 6% on July 15.
SILVA is available exclusively via the Gorilix Defi website.
To buy your SILVA tokens or learn more about Gorilix DEFI,visit https://gorilix.io.
To register for the presale: https://cabinet.gorilix.io/sign-up
To join Gorilix on Telegram, Twitter & Instagram: https://linktr.ee/Gorilix
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