Ethereum merge is one of the most anticipated events in the crypto space this year. Because of this, crypto firms are on the lookout for any hiccups that may occur as the newly upgraded Ethereum network comes to life.
In a Cointelegraph interview, Alexander Hopptner, CEO of crypto exchange BitMEX, shared how his trading platform is preparing for a merger, talked about the potential for institutional adoption following the transition to proof-of-stake (PoS), and Gave your thoughts Bitcoin (BTC) and Ether (ETH).
According to Hoptner, the most important thing, in addition to checking all the boxes on the company’s standard preparedness before big events, is paying close attention to what might happen and making sure their services are working. he explained:
“You have to be fair, let’s say, wake up and see what happens. There is a potential for high volatility. And so you have to make sure that your services are up and running. […] We don’t expect any major disruption other than instability.”
When asked about a potential proof-of-work (PoW) fork, the BitMEX executive commented that a fork would be good as long as it is supported by a strong community. Hoptner highlighted that a major risk to the fork is not supporting enough miners.
Another topic brought up during the interview is the issue of post-merge institutional adoption. With major players ramping up their services targeting institutional players, the BitMEX CEO believes that PoS is more attractive to Ethereum organizations as it addresses the environmental narrative that institutions are mostly concerned with. They said that:
“I am pretty sure this will lead to institutional adoption and mass market adoption as generally the current generation pays close attention to full efficiency, environmental development.”
The executive also noted that large financial players are already working in crypto, primarily with BTC and ETH. He added that many institutions are already proposing 1 to 2% of cryptocurrencies in their portfolios, and Hopptner believes this will increase further.
related: ETH Merge: CoinGecko Co-Founder Shares Strategy for Forked Tokens
Contrary to popular belief that the market is currently in a tizzy, the CEO of BitMEX shared his team’s belief that what the industry is currently witnessing is not a bear market, but a modest correction often seen in traditional finance. goes. They said that:
“Earlier it was very hot in the market. Money was very cheap, and it is a slight improvement now, but we are very bullish on bitcoin, very bullish on ETH, especially for proof-of-stake. ,
Overall, Hoptner considers the Ethereum merge to be a positive development in the industry, and reiterated that his team is bullish on the value of ETH. The CEO also highlighted that Ethereum has a very solid community, and that ETH could eventually surpass BTC. “I think it certainly can, let’s say, surpass bitcoin in relative growth,” he said.
