Weekly Uptrends in the Cryptocurrency Market And the successful launch of Ethereum’s “Merge” on March 15th on the Kiln test network has made the community excited about the move. proof-of-stake (POS)
Since the successful launch of Kiln, the price of Ether has increased 25% from $2,500 to a daily high of $3,193.
The recent rebound in Ether prices over the past few weeks has been noted by crypto analyst and crypto analyst Justin Bennett.postAn image that highlights the trend reversal.
$ETH first higher high since early Nov. 2021.
Probably nothing.#Ethereum pic.twitter.com/3qqFaV7iUn
— Justin Bennett
(@JustinBennettFX) March 24, 2022
An analysis of the impact Ethereum’s “Merge” will have on price was by analysts at global research institute MacroHive, who noted that merge would have on Ether.
from the dataAccording to MacroHive, “the opportunity to generate passive returns on Ether investments will attract more investors to the space.” proof-of-stake “It will reduce the energy consumption of Ethereum by 99.95%.”
In turn, this will help attract more institutional money to the Ethereum ecosystem due to environmental, social and governance (ESG) concerns “about the energy consumption of mining/proof-of-work will reduce”
“The coming of this Coupled with the continued burning of Ether, Ether will experience deflation. and create a good overview.”
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