It’s been revealed that great days are awaiting Ethereum. Despite the volatility that we have been seeing in the crypto market, the optimistic predictions don’t stop from entering the crypto space. Check out the latest one about ETH.
At the moment of writing this article, ETH is trading in the green, and the coin is priced at $1,589.
ETH price could go up
It’s been just revealed that Coin Bureau is keeping a close eye on the price of Ethereum (ETH) as the Merge update is set to be completed in a few days. This is an extremely important upgrade that’s been in the news for a while now.
Experts have been saying that this will trigger a massive price rise for the coin.
In a new video, pseudonymous analyst Guy said that interest in Ethereum 2.0 is placating concerns over the forked versions of the blockchain.
Just to refresh your memory, the Merge update switches Ethereum from proof-of-work (PoW) to proof-of-stake (PoS). It’s also important to note the fact that some miners consider keeping PoW versions of the network to avoid big financial losses.
“The threat posed by proof-of-work forks appears to have been neutered by the overwhelming institutional support for the proof-of-stake chain.”
He also made sure to explain the fact that the institutional support is a double-edged sword though because the sanction on crypto mixer Tornado Cash is also an emerging problem, according to the same notes.
“It’s still not entirely clear as to how the community is going to deal with the risk of protocol level censorship, but one thing is for certain: no validator is going to risk 30 years in prison no matter how strong the need for a permissionless ledger.”
Check out what more the analyst said in the original article posted by the Daily Hodl.
There are all kinds of optimistic predictions coming into the crypto space despite the multiple price corrections that we’ve been seeing for a while.