September 2022 It is the third highest point in the history of ETHBTC This is also the starting time for Ethereum's transition from POW to POS From POS to present ETHBTC ranges from 0.085 to 0.025 Background information: September 15, 2022 The Merge is one of the most significant upgrades in Ethereum history. Through this upgrade, the Ethereum mainnet merged with the Ethereum Beacon Chain, completing the transition from PoW to PoS. Key time points: Beacon Chain launch time: December 1, 2020 (the "warm-up" phase of Ethereum PoS chain) The Merge completion date: September 15, 2022 Since then, Ethereum's block production has relied entirely on the PoS mechanism, and miners have officially exited the historical stage. Stakers have taken on the responsibility of network consensus. ETHBTC initiates a permanent and irreversible decline