Ethereum and the crypto market slightly recovered some gains after the Federal Reserve (Fed) announced a 75-basis point (bps) interest rate hike. There was no surprise from the financial institutions, and the second crypto by market cap might be able to extend the bullish trend without external distractions.<\/p>\n
Related Reading |\u00a0TA: Bitcoin Price Restarts Increase After Fed Rate Hike But Resistance Intact<\/p>\n
At the time of writing, Ethereum (ETH) trades at $1,640 with an 11% profit in the last 24 hours and a 7% profit over the past week. The cryptocurrency has reclaimed its position as the best-performing asset in the top 10 by market cap.<\/p>\n
ETH\u2019s price moving sideways on the 4-hour chart. Source: ETHUSDT Tradingview<\/p>\n
In an interview with Bankless, the inventor of Ethereum spoke about what could be the most bullish milestone for this blockchain since its inception: \u201cThe Merge\u201d. The event that will complete ETH\u2019s migration into a Proof-of-Stake (PoS) blockchain with the promise of bringing more scalability and better performance to the network.<\/p>\n
For months, there has been an ongoing debate about the impact of this event on the price of Ethereum. Some market participants believe \u201cThe Merge\u201d is already priced-in, meaning its impact is currently reflected on ETH\u2019s price, others believe the opposite.<\/p>\n
Buterin himself is amongst the former, he believes \u201cThe Merge\u201d is not priced-in from a market and psychological standpoint. The positive impact of this event will have implications with the potential to ripple across the entire Ethereum ecosystem.<\/p>\n
These effects will kick in when \u201cThe Merge\u201d has been deployed on the mainnet. Buterin said:<\/p>\n
The Merge is looking more and more in the review mirror. It\u2019s looking more and more like \u201chey, this things is going to actually happen and when it happens I expect (developer\u2019s) morale is going to go way up (\u2026). I basically expect that \u201cThe Merge\u201d is not going to be priced-in, by which I mean not just in market terms, but in psychological, and narrative terms (\u2026).<\/p>\n
What \u201cThe Merge\u201d Could Spell For The Price Of Ethereum<\/p>\n
Once \u201cThe Merge\u201d has been implemented, Buterin predicts that Ethereum will change a \u201clot of minds\u201d. This could potentially hint at the surge in the adoption of this network\u2019s ecosystem.<\/p>\n
There has been a lot of talk about cryptocurrencies and their alleged negative impact on the environment. \u201cThe Merge\u201d is set to reduce Ethereum\u2019s carbon emissions by 99%.<\/p>\n
This could translate into more institutions and capital previously sidelined from the crypto space because of its environmental footprint thus, why this event might have profound implications in terms of adoption, price appreciation, and development.<\/p>\n
Related Reading |\u00a0TA: Ethereum Surges 15%, Why ETH Could Climb Above $1,700<\/p>\n
On the latter, Buterin celebrated Ethereum\u2019s capacity to improve its development speed across the years. After \u201cThe Merge\u201d, ETH core developers will focus on scalability and building the infrastructure needed for mainstream adoption.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum and the crypto market slightly recovered some gains after the Federal Reserve (Fed) announced a 75-basis point (bps) interest rate hike. There was no surprise from the financial institutions, and the second crypto by market cap might be able to extend the bullish trend without external distractions.<\/p>\n
Related Reading |\u00a0TA: Bitcoin Price Restarts Increase After Fed Rate Hike But Resistance Intact<\/p>\n
At the time of writing, Ethereum (ETH) trades at $1,640 with an 11% profit in the last 24 hours and a 7% profit over the past week. The cryptocurrency has reclaimed its position as the best-performing asset in the top 10 by market cap.<\/p>\n
ETH\u2019s price moving sideways on the 4-hour chart. Source: ETHUSDT Tradingview<\/p>\n
In an interview with Bankless, the inventor of Ethereum spoke about what could be the most bullish milestone for this blockchain since its inception: \u201cThe Merge\u201d. The event that will complete ETH\u2019s migration into a Proof-of-Stake (PoS) blockchain with the promise of bringing more scalability and better performance to the network.<\/p>\n
For months, there has been an ongoing debate about the impact of this event on the price of Ethereum. Some market participants believe \u201cThe Merge\u201d is already priced-in, meaning its impact is currently reflected on ETH\u2019s price, others believe the opposite.<\/p>\n
Buterin himself is amongst the former, he believes \u201cThe Merge\u201d is not priced-in from a market and psychological standpoint. The positive impact of this event will have implications with the potential to ripple across the entire Ethereum ecosystem.<\/p>\n
These effects will kick in when \u201cThe Merge\u201d has been deployed on the mainnet. Buterin said:<\/p>\n
The Merge is looking more and more in the review mirror. It\u2019s looking more and more like \u201chey, this things is going to actually happen and when it happens I expect (developer\u2019s) morale is going to go way up (\u2026). I basically expect that \u201cThe Merge\u201d is not going to be priced-in, by which I mean not just in market terms, but in psychological, and narrative terms (\u2026).<\/p>\n
What \u201cThe Merge\u201d Could Spell For The Price Of Ethereum<\/p>\n
Once \u201cThe Merge\u201d has been implemented, Buterin predicts that Ethereum will change a \u201clot of minds\u201d. This could potentially hint at the surge in the adoption of this network\u2019s ecosystem.<\/p>\n
There has been a lot of talk about cryptocurrencies and their alleged negative impact on the environment. \u201cThe Merge\u201d is set to reduce Ethereum\u2019s carbon emissions by 99%.<\/p>\n
This could translate into more institutions and capital previously sidelined from the crypto space because of its environmental footprint thus, why this event might have profound implications in terms of adoption, price appreciation, and development.<\/p>\n
Related Reading |\u00a0TA: Ethereum Surges 15%, Why ETH Could Climb Above $1,700<\/p>\n
On the latter, Buterin celebrated Ethereum\u2019s capacity to improve its development speed across the years. After \u201cThe Merge\u201d, ETH core developers will focus on scalability and building the infrastructure needed for mainstream adoption.<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-4350","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=4350"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4350\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4350"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}