The latest Ethereum merge was one of the greatest events in the crypto market. With its shift from proof of work to proof of stake consensus mechanism, the currency is all set to ignite a streak of excitement amongst small and medium institutions.
Ethereum’s Shift Marks a New Beginning
With Ethereum’s shift to a proof of stake consensus mechanism, the token can overcome its initial challenges in the bearish crypto market. Such a transition ensures better utilization of energy resources and conserves them for the future. Evidently, this transition marks the beginning of a sustainable approach adopted by Ethereum, something that most institutions look for. Thus, the merge is set to mark a new beginning for Ethereum in the crypto market and open up new opportunities for individual investors and institutions.
How Can Ethereum Tackle Its Price through the Merge
While Ethereum is at its all-time low, sinking to $1000 in 2022 and under selling pressure, financial experts anticipate greater participation from institutions. While energy depletion in the crypto market has become a common concern globally, setting up new and sustainable operations can do away with the bad name. Hence, several institutions will likely walk into the crypto ecosystem with Ethereum’s shift in their consensus mechanism. Thus, the merge will lead to a more significant investment in Ethereum tokens, it is also likely to boost participation in the crypto market.
Ethereum to Go Bullish
Though Ethereum’s prices hit $1600 in 2022, market analysts and veteran investors believe the currency to show bullish trends by the end of the year. To give a more accurate calculation, financial experts expect Ethereum to reach as high as $3000 by the end of 2022. Of course, the reasons and credits for such a spike go to the merger. By catalyzing the participation of several institutions in the crypto market and attracting them to their sustainable approach, the token can demonstrate enough potential in the next few months. However, the shift and its catalyzing reactions only come in the long run. The merger is here to stay and impacts longer than bringing about significant changes in one go.
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Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR (do your own research)