Why The Ethereum Merge Needs to Get You Excited
There is a general assumption that more misery is coming as the financial markets throughout the world collapse. Turning to the cryptocurrency markets, they have also experienced significant suffering throughout the summer. Crypto has faced a flurry of additional black swan events on top of having to deal with the macro issue. The Luna and UST collapsed to almost nil. Which would start a chain reaction that eventually caused Celsius, 3AC, Voyager, Vauld, and many other businesses to go bankrupt.
Ethereum merging is a big deal. There have been numerous significant advancements, upgrades, and events over the whole history of cryptocurrencies. There have only been two significant incidents that will live on forever. The first is the invention of Bitcoin and the mining of the genesis block. The development of Ethereum is the second. Many people consider the transition of the Ethereum blockchain from a Proof-of-Work to a Proof-of-Stake chain to be the third significant turning point in the history of cryptocurrencies. It would be an understatement to say that there is a lot of anticipation surrounding this merger. Never again will things be the same. When we reflect on the biggest advancements in cryptocurrency over time.
The amount of new Ethereum issued after the merger will decrease by around 90%. This is known as the “triple halving” by many Ethereum aficionados. The half of Bitcoin, which occurs every four years, is thought to be the trigger for the beginning of each new bull cycle. A few months after BTC’s price has been cut in half, it starts to soar, pushing the market as a whole upward. But this decrease in Ethereum production actually equates to three Bitcoin halves. Even that should start the gears in your head turning.
More About The Ethereum Merge
The Bellatrix upgrade on the Ethereum blockchain will commence the Merge, which is expected to end between September 13 and September 16. Resulting in a decline in the price of Ethereum after the merger. The majority of individuals will want to hang onto their ETH due to another event. After the integration, it’s anticipated that the incentives for staking your Ethereum would nearly quadruple. Currently, rewards might range from 3 to 5%, depending on where you stake your ETH. After the change, those prizes may increase by 6–10%. Consequently, it presents a fantastic potential to generate passive income using one of the leading cryptocurrencies.
Some people are concerned that everyone who has been locked into the staking system will try to sell once the two chains combine into one. But it’s not doable. The funds of people who are staking their ETH will still be frozen as of right now. Incapable of withdrawing until a further protocol upgrade is made public. Even then, the withdrawal from staking will occur gradually, reducing the likelihood of a stampede-style exit from staking. Again, the high staking interest rate will be sufficient to keep the majority of people interested in staking. The alleged forks that will result from the fusion are a major source of FUD.
