It’s been revealed that the Ethereum merge could have important effects on crypto investors. Check out more reports below.
Ethereum merge potential effects
BitMEX co-founder Arthur Hayes has recently talked about his outlook on the crypto landscape after the Ethereum (ETH) merge is executed.
In a new interview on the Unchained Podcast, Hayes analyzes the potential success of a forked Ethereum token backed by proof-of-work miners whose business model will be abandoned. This will happen once Ethereum moves on to proof-of-stake.
According to Hayes, it will be tough for a forked version of Ethereum to thrive in the long run. The reason for which this could happen is because it will likely lack significant levels of adoption.
“The reason why Ethereum is valuable is because people use it, right? And the majority of people who use Ethereum are not very technologically savvy. So if I come to you and I said ‘hey, there’s ETH proof-of-work and ETH proof-of-stake – which one do you want to use?’”
Hayes continued and said the following:
“[Most people would say] I don’t know, what does that even mean? I just want to use Ethereum. I just want to go on MetaMask and go on Uniswap and buy some s**tcoins… I want to use this new ETH in that ecosystem and it’s pretty cool. I can just go on my browser and go to MetaMask and do stuff.”
Regarding Ethereum’s price today, at the moment of writing this article, ETH is trading in the red, and the coin is priced at $1,510.
Ethereum could see a massive rally
A popular crypto strategist says that Ethereum (ETH) and the crypto markets could ignite sharp rallies this month. This is regardless of what happens in the highly anticipated merge.
In a new strategy session, Cred highlighted the fact that the merge is scheduled to happen on the same day (September 13th) that the latest inflation data is released.
