You must have heard about the Ethereum Merger, where the Ethereum Blockchain will be merged with the Baecon Chain to provide better scalability and a proof of stake mechanism. Recently we have been seeing the price of ETH increase and for a while it’s doing really good on its own. The competition to over throw Ethereum on the list is real, so what does that mean? You know how Ethereum’s flaw is the scalability and high transaction fees, yeah, that is about to be an old talk now. While other projects are looking forward to dethrone Ethereum, Ethereum is looking forward to dethrone Bitcoin. Then Bitcoin is trying its best to retain its position.
At the time of writing, the value of ETH is at $1,740, that’s like over 40% increase this month. Quite impressive, it’s on its way to being at half it’s all time high price. Bitcoin has been having it’s pump moment lately but you can’t equate that to bitcoin. But let’s see how the market reacts at the end of the month. I honestly want to see the crypto market cap above $1 Trillion for a long time, it’s a big progress compared to the last bear market but in this case, we are all Oliver Twist, because we want more.
Could this be the best time to have crypto assets as investments since the whole world has been experiencing unending inflation. Back to Ethereum, most ETH holders are expected to be really excited about this merge, one of the reasons is because, anyone with 32 ETH can become a validator, when they stake those 32 ETH, and earn. This way it’s cheaper and less expensive to mine and earn ETH, and let’s not forget that it’s good for the environment. Making Ethereum much more efficient than it used to be, and don’t worry about the supply an upgrade has been put a place few months ago to control that.
The total crypto market has been suffering from the bears it’s nice to see some of these tokens pump. This has made people assume that we might just be seeing another Bull market, or is it? Might just be a Bull trap. Well, as a long term investor, I am definitely here to enjoy the ride, I guess we will be seeing ETH at $10k soon, or is it too soon?
