Will the Ethereum Merge change a lot in the cryptocurrency market?
In recent months, in addition to Bitcoin’s drop of popularity in the market of the most popular cryptocurrencies, there has also been a lot of talk about the Ethereum Merge, especially the various changes that have taken place in this area. Of course, most of us have no idea what a Merge is.
Ethereum merge – what does it mean and what impact will it have on the value of the wallet itself or the quotation of this cryptocurrency?
It is therefore worth explaining what enabled the Ethereum merge – it is nothing more than a change in the transaction model in which so far it was the “miners” who had to approve each of them in the Ethereum network. With the changes that took place in September, this function will fall to validators and node owners, who will additionally start using energy-saving equipment that will reduce energy consumption by up to 95%. It should be mentioned that the comparable demand and energy consumption of Ethereum remained at the level generated by the whole of New Zealand, so it was quite high. In addition, the Ethereum merge will become a cryptocurrency similar in form to the biggest competition, i.e. Bitcoin, i.e. its quantity will be limited, so we are talking about deflation tokens. You can say a little more about how the technology and the scope of changes and activities affected the cryptocurrency market to a large extent because it was the first time it happened that price of Ethereum is steadily increasing. So it becomes a cryptocurrency that will not only be easier to invest in on many levels, but also cheaper to “dig” or rotate at the same time.
What impact will the merge have on the value of Ethereum
There are no indications that the merger of Ethereum in times of uncertainty for the cryptocurrency market would lead to an even worsening of the current situation, which we will see by looking at its current chart on one of the exchanges.
However, will the changes implemented as part of the Etherum merger strengthen this cryptocurrency?
It is definitely too late for such conclusions, it is said that it may be a risky move, but also the type of move that will make Ethereum finally a real competition for Bitcoin. Not only that, over the next few years there is a high probability that it will start to gain value much faster, which is happening right now with the current Bitcoin decreasing tendencies and Ethereum growth. Therefore, Ethereum is encouraged to appear in the wallets of those investors who, despite operating on the cryptocurrency market, have been skeptical about it so far, considering it as something less attractive than Bitcoin itself. The dynamics of the development of the cryptocurrency market depended to a large extent on the reduction of costs directly related to their “digging” by “miners”, and the Ethereum merger seems to be the right solution in this case. Especially one that is not only talked about a lot but is also visible in relation to possible profits.