Focus on the ecosystem surrounding Ethereum, the second‑largest network by market cap. Get insights into network upgrades, smart‑contract innovations, DeFi and NFT trends, staking developments and other Ethereum news today.
Tether believes that the Merge is “one of the most significant moments in blockchain history”.
The top two stablecoin issuers – Circle and Tether – have distanced themselves from any hardfork in Ethereum. They said that they will continue to support the PoS transition of Ethereum.
Here’s what experts have to say about the impact of The Merge upgrade on the Ethereum ecosystem and other blockchain networks.
Ethereum developers have been working on shifting their focus to scale the network after the coming upgrade – The Merge.
In resolving the potential favoritism that may be shown amongst the two Ethereum protocols in the future, Vitalik Buterin is proposing that the ecosystem should learn to adopt a wide range of stablecoins in order not to concentrate power on just a single protocol.
According to a recent announcement by the Poloniex exchange, it would start supporting the ETHW next week.
Reports have also noted that the presence of other crypto-related domain names offering .sol (Solana), .bitcoin, and .zil (Zilliqa) domains, have increased in the market.
OpenSea moved to Solana back in April, and now Magic Eden is returning the favour by moving to Ethereum.
Coinbase noted that there’s a growing interest among institutional investors for staking cryptocurrencies and generate passive income out of it.
Macro hedge funds may be positioning themselves in advance for the Ethereum merger in September.
Ethereum is currently trading above $1,700 after rising 15% on Thursday as network prepares for The Merge.
Michael Saylor has always favored Bitcoin ahead of other cryptos and MicroStrategy kept increasing its position even during the market pullback and mass sell-off.
Ethereum co-founder Vitalik Buterin recently offered Ethereum Classic as an alternative for people averse to the ETH PoS upgrade.
Essentially, Ether isn’t the only crypto that is rallying. The entire crypto market has picked up in the last ten days by nearly 19%.
Following the excitement around The Merge upgrade, institutional interest in Ethereum has been picking up strongly. ETH breaks past its crucial resistance and is trying to approach $1,700.