TeaThat global market is retreating, while the crypto market is bleeding in anticipation of a Federal Reserve interest rate hike of 0.75%.
Market participants are expecting an Ethereum bull rally after the completion of the Ethereum merge. Furthermore, it is important to see how other cryptocurrencies will react after the merger, especially bitcoin which is scheduled for September 15th.
Conversely, the crypto community is also concerned about what will happen if the Ethereum merge goes wrong. The market has already suffered a lot since Terra’s collapse in May. Now if the merger goes wrong, it will be a very disastrous event for the market.
Meanwhile, a major bitcoin organization bitcoin organization event Organisertechnologypayment solution Follower: 0 view Profile Pro, Samson Mow Samson mowing Founder and Chief Executive Officer on pixelmatic Samson Mo is the CSO (Central Statistics Office) of Blockstream and CEO of Pixelmatic. At the forefront of work in cryptography and distributed systems, Blockstream is a major supplier of blockchain advances. Pixelmatic was formed in 2011 by Samson and partners at Activision Blizzard, Relic and Electronic Arts to create entertaining games that are social and inspire new connections. As COO of BTCC, one of the world’s leading bitcoin exchanges and mining pools, his responsibility was to oversee the day-to-day operations of the company. He served as director of production and executive producer at Ubisoft, where he led expansion into Asian markets for web, social and mobile games. “The Smurfs and Company” is Ubisoft’s most successful social game ever, reaching over 10 million users. Prior to Ubisoft, he was in charge of business development and operations at Sitemasher, a Vancouver-based startup developing a SaaS platform for building websites and apps. He is associated with El Salvador’s arrangement to build a “Bitcoin City” on the foundations of the Colchagua volcano. The arrangement is to harness geothermal energy from lava wells to drive bitcoin mining in the city, and the bitcoins will be used to support said project. Mov and Blockstream are true guides on Bond’s plan, and the bonds will be delivered with sidechain-based settlement network Liquid, in addition to being built by Blockstream. On the task, he noted that “the general inclination was an extremely impressive attachment and course.” The recently discovered crypto unicorn status of the El Salvador bitcoin bond project, as well as Blockstream’s recently discovered crypto unicorn status, is expected to be another bustling 2022 mowing ar. entrepreneurchief executive officermarket analyst Follower: 0 view Profile claims that instead of increasing the strength of the network, Ethereum ethereum blockchain networktechnology Follower: 0 view Profile Developers are focusing on Tokenomics. He also added that after the merger, Ethereum could be affected by regulatory action by centralized exchanges and staking platforms.
Samson points to the need for validators to stake 32 ETH, which makes the proof of stake (PoS) model highly centralized.
Ethereum Merge, a Risk for Bitcoin?
Overall, although Ethereum is expected to see a bull run after the merger, some investors and traders are concerned about its downside.
One market participant, known as Foss, claims that although everyone has a bullish trend, the merge could be a downside risk to other cryptocurrencies. This is due to Ethereum’s correlation with Bitcoin price action.
So far, although the market has been affected by high volatility, Ethereum has seen an uptrend. Reportedly, the Ethereum merge has successfully progressed to 96.55% and will be completed by September 15th.
At the time of writing, ETH is trading at $1,640 after a decline of 6.25% over the past 24 hours.