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How Can Ethereum Merge Impact Traders And Crypto Market

The Ethereum merge has been one of the hot subjects of 2022 and now, we are addressing the ways in which this move can affect traders and the whole crypto market. Check out the latest reports below.

Ethereum merge benefits

It’s been just revealed that after months of speculation, the long-awaited Ethereum (ETH) merge finally took place on September 15, 2022.

As the online publication the Daily Hodl notes, the merge saw the popular blockchain network move from its hardware-based PoW (proof-of-work) model to the more environmental-friendly PoS (proof-of-stake) model.

The merger will see the Ethereum blockchain reduce its carbon footprint by 99.9%. It’s also important to note the fact that this will result in faster transactions and lower fees.

Because the PoS system doesn’t require hardware-based operations, Ethereum trading fees will significantly decrease, and network speed will soar.

Overall, the Ethereum merge is a huge step for the entire crypto industry. As the same online publication mentioned above notes, there are some risks involved, but the potential economic benefits of this upgrade are significant.

Regarding the price of ETH today, at the moment of writing this article, ETH is trading in the green and the coin is priced at $1,344.

ETH price prediction

A popular crypto trader is forecasting rallies for Ethereum (ETH), Chainlink (LINK), and an altcoin from the decentralized finance (DeFi) sector.

The pseudonymous analyst known as Altcoin Sherpa said that he expects ETH to at least break through the $1,500 level. This means about 11% up from current prices.

“ETH: I think this goes to 1500 at a minimum to be honest. This looks like it’s forming a short term bottom overall and I still think looks decent.”

Altcoin Sherpa said the fact that the decentralized oracle network Chainlink also appears to be in a breakout position.

Stay tuned for more news and make sure to check out the crypto market.

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