Ethereum has been making headlines these days as the merge finally went live. Check out the latest reports about the issue below.
Ethereum merge aftermath
It’s been revealed that the chief executive of the world’s largest crypto exchange platform by volume is warning investors that Ethereum’s (ETH) transition to proof-of-stake will likely dash their expectations in a certain way.
In a new interview with CNBC, Binance CEO Changpeng Zhao says that traders expecting the merge to have an immediate impact on the ETH ecosystem will likely be disappointed. This will allegedly happen especially if they believe drastically lower gas fees will be instantly implemented.
“Many people have very high short-term expectations for the merge, they think [that] Ethereum gas fees will drop from $10 per transaction to $0.02 overnight. That’s most likely not going to happen. It’s a long process.”
He continued and said the following:
“The Ethereum upgrade takes multiple stages over multiple months or years, but it is a very good development though, it is progress in the right direction and it is strong innovation. The merge will happen today or tomorrow, but Ethereum’s gas fees will not drop immediately.”
It’s worth noting the fact that Zhao is the world’s wealthiest crypto billionaire, and he said that further upgrades for ETH in the future would bring it closer to what people were expecting from the merge.
“But when the other upgrades like sharding kick in, that’s when we expect those fees to drop, which is a fantastic development for the industry.”
regarding the price of Ethereum today, at the moment of writing this article, ETH is trading in the red, and the coin is exchanging hands for $1,464.
Regardless of the crypto market’s massive volatility, the mass crypto adoption continues to go great, and there are still a lot of moves being made that support the mainstream adoption of digital assets and the blockchain.
