- The market data news company Bloomberg releases a report regarding the upcoming Ethereum Merger.
- The report stated that the ETH merger would boost institutional-grade investment.
The Report Analysis On ETH
As per the Bloomberg report, ETH is performing better than BTC. ETH collected more active users, active trades, and active accounts as compared to BTC. This interest of users in ETH is due to the upcoming ETH merge. Hence, ETH is performing far better than the most loved cryptocurrency, BTC.
The ETH merger is transition on the network from proof-of-work (POW) to proof-of-stake (POS). Due to this upgrade on the ETH network, crypto traders are showing more interest in ETH trading. And it is raising institutional-grade investment.
Additionally, the report states that the performance of ETH depends on ETH’s social and economic tools. The ETH’s smart contracts noted a major hike of 1.4% over three years. While the NFTs were performing quite low. The report strongly suggests the replacement of ETH with stablecoins and DeFi.
The wide use-case increases the ETH network usage even in the bearish market trend. Even the major crypto firms suffer bankruptcy and fund termination. Because the companies were unable to maintain their liquidity in Stablecoins or DeFi’s.
A digital asset investing group, CoinShares, released a report in mid-July related to ETH. The report stated that ETH was on a three-week stripe with the interest of $7.6 million institutional investors.
The top institutional holders of “Grayscale Ethereum Trust Offers” are Rothschild Investment Corp, Weatherbie Capital LLC, and Rye Brook Capital LLC. These firms’ interests made ETH trading in the green part.
The co-founder of ETH, Vitalik Buterin, replied against the ETH critics last month. He said that the statement on the upgradation of the ETH code based on governance vote is not true.
The upgrade or merger of the ETH network clearly shows high volume in the ETH trade. Due to the interest hike by the Federal Reserve, BTC is suffering a little low as compared to ETH.
The active addresses of BTC users slightly came down to around 30%. On the other hand, ETH fetches the active addresses up with around 113% in the last three years. The current price chart of ETH is resting at $1654.16 with an up of 1.35%. In contrast, the BTC price rests at 22,990.67 USD with a noted down of 0.18%.
If the ETH merger is on time, ETH will offer 6-9% of stacking yields by the end of this year.
Source: https://www.thecoinrepublic.com/2022/08/04/a-report-suggests-eth-merge-attracts-the-institutional-investors/