CRYPTO MARKET CAPITALIZATION AS A FUNCTION OF ETHEREUM AND BITCOIN

in hive-175254 •  2 months ago 

Author: cointelegraph


Greetings and welcome dear readers of this prestigious platform, the topic that concerns us this time is associated with the distribution of liquidity in the crypto market after the arrival of the Ethereum MERGE update, which for many has not generated a real impact on the prices of the second most important cryptocurrency in this market.

In this sense and in the opinion of Cory Klippsten, CEO of Swan, the arrival of the update has been the beginning of the ETH debacle since it will be responsible for the currency entering a state of irrelevance for users that will generate a slow death of the project in question.


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Analyzing these words, we realize that there are many users and large investors who do not agree with the arrival of the update in terms of proof-of-stake, since the status of ETH was what made the coin so coveted, so it is thought that the update should only come as a function of stabilizing and accelerating the network, but not to change a protocol that had been working properly.

Author: coinmarketcap

Therefore, it is thought that the update came at a critical moment, where the market is being strongly hit by international events, so that beyond seeking to improve energy dependence, is to think about the benefits in the short and medium term, and according to Klippsten's projections, the update came at a bad time and more when the economic issue stands out over the environmental, which is the reason why the change of protocol took place.


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So the future is uncertain and although other discourses are handled, the CEO of Swan bets on the fact that the projects that actually work must pay a high price, which is what happens with BTC and energy consumption, so he warns that ETH and its developers start from an idea of illusions by wanting to avoid the real energy consumption and put it above the real basis of the project, so that they will be responsible for the collapse of this important currency.

Consequently, what we are sure of is that BTC exceeds the market capitalization volume of ETH by more than 60%, so in the short and medium term I do not consider that the arrival of MERGE does not represent a problem for Bitcoin and all that is managed behind this great project.


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Hello @madridbg

Certainly there are many users and large investors who do not agree with the arrival of the upgrade in terms of proof of participation, from my perspective the ETH network upgrade should not have been executed in this current context of instability affecting the cryptocurrency market.

Best regards, be well.

Hola amigo @madridbg.

You are very right, this update came at a bad time where the whole cryptomarket is in crisis, so I think Bitcoin will continue to reign in the first place by market capitalization for a good time.

Greetings and thanks for your valuable input.

@tipu curate