MSM Boosts Ethereum Merge Exposure

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Last Updated on 18 August 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Back in June, looked like the world was collapsing on Ether and all the other crypto coins. Vitalik Buterin’s coin was pushing to a 2-year low of $880. Since then, it has seen six consecutive weeks of gains, mostly because of rumors surrounding the merge, the infamous date when Ethereum will switch from proof-of-work to proof-of-stake and thus become a much ‘greener’ platform.

Even though Ethereum is still way off its November 2021 peak of $4,868.79, it has crept back up to $2,000 and is getting multiple mentions in the popular business press because of the merge.

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Exciting time

Omar Syed, co-founder of smart contract platform Shardeum, said to Reuters that:

It’s an exciting time for the ethereum ecosystem. I think there will be drama surrounding the Merge, but I don’t think there will be any technical hiccups.

Alex Miller, CEO of Hiro, builder of applications for bitcoin, was also very positive, stating:

Crypto is still very tightly coupled, I think when the Merge successfully completes it could drive up the price of bitcoin as well.

CNBC yesterday invited Claire Ching of Gemini, who explained that ‘the merge’ will change Ethereum staking and they’re very bullish for the event.

The Financial Times meanwhile highlighted the fact that, if successful, ‘the merge’ would allow Ethereum ‘owners to invest their capital via staking, loaning out digital assets to validate transactions’.

Their estimates are that token owners would in this manner be able to earn between 3.85 and 7% per year. Let’s wait and see whether or not all this is true but it’s looking brighter than a few months ago.