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Former BitMEX bitcoin exchange CEO Arthur Hayes, in an interview with Bankless, allowed Ethereum prices to surge to the $3,000 level after the second largest cryptocurrency’s mainnet with
Former BitMEX bitcoin exchange CEO Arthur Hayes, in an interview with Bankless, allowed Ethereum prices to surge to the $3,000 level after the second largest cryptocurrency’s mainnet with capitalization switched to the Proof-of-Stake (PoS) consensus algorithm.
According to him, the decrease in the number of ETH will be a strong driver for the growth of the asset price. Hayes described the development of the DeFi segment as another factor in the increase in Ethereum demand.
He believes that activating The Merge update would have been a huge incentive for the growth of the second-largest cryptocurrency with a capital letter if it hadn’t been for the collapse of Terra and the bankruptcy of Three Arrows Capital a few weeks before the announcement.
Recall that the Ethereum developers planned the mainnet transition to PoS around September 15.
On September 6, they activated the Bellatrix update. Upgrade is the last step before Merge.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
