Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts.
For Hayes, the outlook seems to be very clear, and he points out that the arrival of The Merge establishes a very solid basis for a sustained increase in the price of Ethereum a decentralized open-source blockchain with smart contracts functionality. for the coming months.
- Hayes proposes that ETH will exceed USD $3,000 by the end of the year
- Indicates that The Merge will be a key event in this regard
- He also said that the growth of ETH is perceived to be strong despite macroeconomic factors
- The Merge could arrive next September 15
The co-founder and former CEO of exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. BitMEX, Arthur Hayes, anticipates that the price of Ethereum will be above USD $3,000 by the end of this year.
Hayes assures us that we will see Ethereum over USD $3,000
Hayes’ statements come to place just a few days before the arrival ofThe Merge,the long-awaited update for the Ethereum which many analysts and investors are particularly interested in, precisely because it rethinks the rules under which the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency works, making it a much more interesting asset in the stock markets.
In this regard, Hayes commented during a podcast in which he participated that the price of ETH is going to be greatly influenced after The Merge, especially because there will be major structural changes that will make the currency much more attractive to people beyond the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. ecosystem.
In this regard, Hayes noted:
“It will issue less, and it’s the only coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency. of this size that is making this change. We know the issuance timeline after The Merge and the flows will be similar to a halving an event in which the total rewards per confirmed block halves. to the Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. network.”
In addition to the above, Hayes also noted that if everything goes according to plan,The Mergewill attract so many buyers as to generate a significant price increase, something that not even the fears associated with the US Federal Reserve . (FED) or political decisions may impact negatively:
“ I love this trade because I can be wrong on the Fed and still make money on Ethereum as the structural flows are changing dramatically in a way that gives the price enough leverage money that a trader borrows from a brokerage, enabling them to gain far greater exposure to a position than what their capital allows. to possibly outperform a negative macro environment.”
Hayes and the good prospects on Ethereum
Ever since the narrative of the positives that The Merge will bring to Ethereum’s evolution began to take hold, Hayes has figured as one of the digital currency’s staunchest enthusiasts, noting that these changes will be very favorable for the digital currency’s price in major markets.
Previously, the former director of BitMEX noted that there was a reflexive relationship between the price of ETH and its deflationary properties, about which he said:
“If The Merge is successful… traders will buy ETH today, knowing that the more the price goes up, the more the network a network refers to all nodes in the operation of a blockchain at any given moment in time. will be used and the more deflationary the currency currency is a medium of exchange that defines value. will become, which will drive the price up more, the network will be used more, and so on and so forth and so on… This is a virtuous circle for market an area or arena, online or offline, in which commercial dealings are conducted. bulls.”
At the time, he also qualified that this update would have such a weight on Ethereum as the one that has a halving for the price of Bitcoin:
“The structural reduction in inflation a general increase in prices and fall in the purchasing value of money. will only happen after The Merge. I expect we will see it similar to Bitcoin Halving, i.e. we all know the dates when it will happen and yet Bitcoin always recovers after each Halving.”
And although he does not rule out that there may be aspects that may threaten its price as happens with all digital currencies, he dismissed that investors are strongly discouraged by such facts so that ETH see a delicate fall.
The Mergearound the corner
Hayes’ most recent statements come just a few days before the arrival ofThe Merge,which could arrive as early as September 15 if everything goes as expected.
Although the excitement continues to build as the event draws nearer, the release of the new consumer price index report (ICP) in the U.S. reflected a slowdown in the rise of inflation for the last month, which had an unfavorable impact on the cryptocurrency market after leading to a fall in the price of Bitcoin and the main exponents of the market.
For the time being, the price of Ethereum was trading at USD $1,593 per unit at the time of publication, reflecting a 6.7% drop in the last 24 hours.
- “The Merge impulsará a Ethereum tanto como un Halving lo hace con Bitcoin”, asegura Arthur Hayes
- U.S. inflation slowed in August, but still remains elevated at 8.3%; Bitcoin responded to the downturn
- The Merge could expose Ethereum’s network to security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. breaches, analysts warn
Article by Angel Di Matteo / DiarioBitcoin
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