Get started

Ethereumclassic

Ethereum ready to shoot lower? Ethereum Intraday We look to Sell a break of 1847 (stop at 1896) 2026 has been pivotal. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. Short term MACD is moving lower. A break of the recent low at 1848 should result in a further move lower. 50 4hour EMA is at 1872. Short term momentum is bearish. 20 1day EMA is at 1770. Our profit targets will be 1723 and 1693 Resistance: 1930 / 2000 / 2100 Support: 1850 / 1800 / 1750 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
SAXO:ETHUSDShort
by Saxo
1
PEPSI Of CRYPTO - Some Like it Classic 🥤Let's get things straight first: We all know the Coca Cola of Crypto. It starts with 'Bit' ends with 'Coin' 🏛️😼 And then there is Pepsi..sorry, I meant to say Ethereum. News = Volatility and short term Potential : Ethereum Classic soars 100% in nine days outperforming ETH as 'the Merge' approaches Ethereum's transition to proof-of-stake could be a boon for the price of Ethereum Classic. What is the difference between ETH classic and Ethereum? Difference Between Ethereum and Ethereum Classic. Ethereum, represented by the ETH, is the new chain that is the original blockchain's offset and takes a second to confirm any transaction. In contrast, the Ethereum Classic represented by ticker ETC is an original chain and not the offset of any original blockchain. The split revealed philosophical divisions within the Ethereum community. Based on the principle that “Code is Law,” a small number of developers and miners believed that The DAO's investors should suffer the consequences of investing in a flawed project. However, the majority of the Ethereum community decided to roll back the blockchain, effectively creating a bailout for The DAO's investors. KEY TAKEAWAYS Ethereum Classic (ETC) is an open-source, decentralized, blockchain-based distributed cryptocurrency platform that runs smart contracts. Ethereum Classic was originally known as Ethereum. It was conceived by Vitalik Buterin and the Ethereum Foundation and launched in 2015. Ethereum Classic was created after The DAO hack in 2016. The dispute caused a split in the Ethereum community, with the majority choosing to reverse the hack. Ethereum Classic is the name of the original, smaller blockchain. History of Ethereum Classic Initially, the Ethereum blockchain was established as a single network where transactions were facilitated by using the cryptocurrency ether or ETH. The new network quickly became popular for initial coin offerings, as different teams used the platform to launch their own tokens. One of the most successful ICOs was The DAO, a decentralized venture fund where investors would vote on assets to invest in. The DAO quickly accumulated more than 11 million ETH, from over 18,000 investors, before unknown hackers discovered a smart contract bug allowing them to withdraw about a third of The DAO's accumulated ether. 1 Due to the scale of the hack, many investors proposed reversing the Ethereum blockchain to rescue the affected investors, while others argued that doing so would set the precedent for future bailouts. After a hastily-arranged poll, 97% of the community voted to restore the lost funds through a hard fork. 2 As a result, the Ethereum blockchain split into two separate networks. The newer network inherited the name Ethereum and uses ETH or ether as its cryptocurrency. The older one, known as Ethereum Classic, uses ETC. Concerns of Ethereum Classic Although both Ethereum and Ethereum Classic offer smart contracts and are after the same market, Ethereum has gained in popularity as the more legitimate of the two networks. Also, Ethereum's ETH is second only to Bitcoin as the most valuable cryptocurrency network in the world. 3 One of the chief concerns of Ethereum Classic is the potential limitations when it comes to scalability. Typically, the network can handle 15 transactions per second, but that number is far less than payment networks such as Visa, which handles more than one thousand transactions per second. Although Ethereum Classic has gone through many software upgrades, the scalability of its payment systems remains to be one of its biggest challenges going forward. 4 Also, security is likely to remain an issue with smart contracts, particularly since Ethereum Classic has already experienced a hack and theft of millions of dollars. These concerns could potentially prevent smart contracts via Ethereum Classic from being used in major financial and real estate transactions. Regulations of the cryptocurrency market continue to develop, which may or may not change how Ethereum Classic—and other networks—operate. For example, the Security and Exchange Commission (SEC) does not consider Ethereum or Bitcoin securities due to their decentralized networks. 5 Without being considered a security, some cryptos may have challenges getting approved for inclusion in various financial products that contain a basket of securities, stocks, and bonds such as exchange traded funds and mutual funds. Going forward, uncertainty remains surrounding the regulatory landscape for Ethereum Classic as well as other, less popular blockchain networks. Future of Ethereum Classic The future of Ethereum Classic looks less bright than Ethereum since Ethereum is considered the more legitimate of the two networks, especially with the security concerns of Ethereum Classic. Investors have lost confidence in ETC over the years due to hacks into the system, and until ETC can redevelop its code and software to prevent future hacks, Ethereum Classic may have challenges ahead. However, it remains to be seen how the smart contracts will be developed within the Ethereum Classic project and whether they can be adopted for widespread use. How Is Ethereum Classic Different from Ethereum? Although Ethereum Classic's ETC has value as a speculative digital asset that investors can trade, Ethereum's ETH is considered the more legitimate and widely traded. In early 2021, the Chicago Mercantile Exchange (CME) approved the trading of ether futures. Only Bitcoin and Ether have been approved for such transactions. The futures are derivative contracts on an underlying security with a fixed price and maturity date. 6 Ether futures allow investors to trade ether for speculation but also to hedge an outstanding position in ETH or perhaps other cryptos. 7 We can determine how the investment community views ETC versus ETH by analyzing how much capital or investment dollars are being committed to the two currencies. When comparing the two market capitalizations of the two cryptos, ETH is the clear winner. The market cap of a cryptocurrency is calculated by multiplying the currency's price—based on a fiat currency such as U.S. dollars—by the outstanding coins or tokens in circulation. ETC has 133.9 million coins in circulation with a market capitalization of $6.1 billion while ETH has approximately 120 million in circulation and a market cap of more than $417 billion. ETC trades at $46.00, while ETH trades for more than $3,475 per coin as of April 2, 2022. 8 Although both networks offer smart contracts, the potential for the aforementioned security concerns surrounding ETC will likely push investors to invest in ETH and adopt Ethereum's smart contracts versus those of Ethereum's Classic. Goals of Ethereum Classic Since the split, there have been many upgrades and improvements to the Ethereum Classic project. The goal of the project continues to be working toward becoming a global payment network using smart contracts that can function without centralized governance. 9 As with other cryptocurrencies, Ethereum Classic will likely continue to strive to be a digital store of value, meaning it can be saved and exchanged while retaining its value. The digital store of value for crypto includes its purchasing power that can be quickly turned into cash or used to buy another asset, similar to money. How do you like your Pepsi? -Proof or work or Proof of Stake ? -Classic and forgotten or fond of Vitalik's changes? Let me know our thoughts. The FXPROFESSOR
Long
by FX_Professor
6
Ethereum Classic (ETC) forming Gartley | A good buy opportunityHi dear friends, hope you are well and welcome to the new update on Ethereum Classic (ETC) with BTC pair. In previous trade ETC slightly move below the potential reversal zone, however, recovered soon and pumped well. Now on a 4-hr time frame, ETC is about to complete a bullish Gartley pattern: Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Long
by moon333
Ethereum: higher highs?Ethereum Intraday We look to Buy at 1622 (stop at 1578) The trend of higher lows is located at 1610. We look for a temporary move lower. We look to buy dips. Daily signals are mildly bullish. Our profit targets will be 1739 and 1779 Resistance: 1750 / 1800 / 1900 Support: 1700 / 1650 / 1600 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
SAXO:ETHUSDLong
by Saxo
$ETC - Bounce from 60 period SMA on the 4 hour chart - LONGA simple idea along the lines of my last couple if you've seen, we've had a large expansion when ethereum classic started to get a lot of attention surrounding the merge narrative and mining moving over, a range was set on the break down from that rally and price has managed to break out and is currently come back down to retest it, also lining up with a bounce from the 20 period SMA which I like. this is a good level to buy imo and i think we go to at least 40.6ish which is towards the top of the prior consolidation before breaking down tldr buy 37.6 target 40.6 stop 36ish (below a prior wick and 20 period SMA) follow me on the tweeter :)
FTX:ETCPERPLong
by disgruntled
Ethereum - watching support levelEthereum Intraday We look to Buy at 1571 (stop at 1524) We look to buy dips. The previous swing low is located at 1560. Bespoke support is located at 1550. Daily signals are mildly bullish. Our profit targets will be 1688 and 1728 Resistance: 1700 / 1750 / 1780 Support: 1600 / 1550 / 1500 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
SAXO:ETHUSDLong
by Saxo
Jamie Gun2Head Idea - Selling EthereumTrade Idea: Selling Ethereum Reasoning: At resistance level, price is still, looking to drive lower within the channel Entry Level: 1665 Take Profit Level: 1567 Stop Loss: 1692 Risk/Reward: 3.63:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
COINBASE:ETHUSDShort
by Signal_Centre
ETH Merge, HODL for some free coins?Ethereum's long-awaited merge is just around the corner, possibly the week of September 19th according to recent news. Hopefully the 21st of September for the Earth Wind and Fire memes. (da da ut da...and now it's stuck in my head) Shifting from Proof of Work to Proof of Stake will alter how the network nodes establish consensus. The new consensus layer of ETH will allow far less energy to be used to run all kinds of network applications. Generally, this will be a welcome upgrade since pretty much everything runs on top of ETH these days. However, there is a possibility of the current miners hard forking the network to remain semi-relevant much like ETH Classic. If such a hard fork were to occur, There is the possibility that current addresses will be credited in the hard fork with new tokens on the new forked chain due to the import of ETH block history. This might happen rapidly or not at all and is a long shot as the ETH community is generally cohesive. However, due to a large amount of built-up capital in the form of mining hardware, a faction taking this path rather than switching resources to mining other coins would not be unheard of as Bitcoin cash and Ethereum classic can attest. if handled improperly in a centralized way such as unclaimed tokens being centralized sometime after the fork, the forkers would also have full access to forked versions of NFTs and tokens. There could be some chaos in that respect for years to come due to confusion and the "I copy pasted your NFT" memes would reach a whole new level. One could suspect those with few scruples might be enticed by the possibility of forked bored apes alone not to mention the hundreds of other projects in the ecosystem. One could also suspect the ETH community will fight back against any fork if one occurs to prevent confusion and protection of value. Thus prepare the popcorn as things might get weird. To make this play all one would need to do is hold ETH in an address during the time of the merge to Proof of Stake. Preferably a self-custodied address off an exchange such as a Ledger/Trezor or a Meta Mask. otherwise, the exchange would get the coins on the new chain credited to their hot or cold wallet instead of you, and then you'd be at their mercy on getting any of the new tokens if at all. Then throw the new coin in an LP on Uniswap/your favorite DEX ASAP if one occurs and finally sell the stake in the coin in the future or keep it for use on the new chain. If this scenario does transpire expect major volatility in the new token soon after due to illiquidity of exchange and the possibility of transactions only on Dexes such as Uniswap for the first few months to even years. Thus a good play would be to not expect anything while holding ETH in an address through the merge. All the best, See You on The Moon.
BITSTAMP:ETHUSDLong
by GreatScottTheMoon
4
Still long opportunities in EthereumEthereum Intraday We look to Buy at 1571 (stop at 1524) We look to buy dips. The previous swing low is located at 1560. Bespoke support is located at 1550. Daily signals are mildly bullish. Our profit targets will be 1688 and 1728 Resistance: 1700 / 1750 / 1780 Support: 1600 / 1550 / 1500 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
SAXO:ETHUSDLong
by Saxo
can ETC see $90?#ETC/USDT $ETC completed Adam and Eve pattern that shaped inside ascending channel and touched 2 fib level of this pattern that is the same with 0.5 fib level of daily swing down. 🐮 price can correct toward upper line of channel and continue its uptrend move to $38 and if the weekly candle going to close above descending resistance, price can fly to $90 in coming weeks. 🐻 but if bears break down price inside ascending channel price may drop to $25 and even $18.
by parissap
8
Ethereum pulling back? Ethereum Intraday We look to Sell a break of 1619 (stop at 1673) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. 50 4hour EMA is at 1625. A break of the recent low at 1640 should result in a further move lower. Our profit targets will be 1481 and 1441 Resistance: 1700 / 1780 / 1900 Support: 1600 / 1550 / 1500 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
SAXO:ETHUSDShort
by Saxo
1
ETH's "Merge" Coming Sep 19th - The Good, The Bad, The UglySo if you've been paying attention to crypto stuff for a while, you probably heard that Ethereum's big "merge" is coming on Sep 19th. They've been talking about it for a while but there's now at least a definite date. (And they're pretty good at making deadlines once they commit to a date, to be fair.) The switch from proof-of-work to proof-of-stake should be an improvement to most things for the most part, but there's a few things people should know: - The coin is set to become a deflationary asset, out-scarcity-tizing (is that a word?) the coin it's trying to beat, Bitcoin. This should, in theory, be good for current ETH/ETH2 holders but even according to the team this is something that'll happen over time, not right away. (I think this argument is a strategic one, personally - more explanations later.) - The merge won't solve ETH's scaling problems - the "sharding" improvements are planned to come later, the earliest mid-2023. The idea was for ETH to "burn" its existing supply in order to keep gas fees down but we don't know if this is going to work in practice. - The merge will effectively put all ETH miners out of a job, and many of them will forced to move over into other chains since mining will no longer be profitable on ETH2 as the "difficulty bomb" sets in. If you've noticed ETC going up a lot recently, keep in mind that that project has already been hacked 3+ times at the protocol level and can't be considered legitimate. (The fact that it somehow stays alive is still bizarre to me tbh.) I've been with ETH since 2014 so I've seen a lot of changes happen within the ecosystem over the years - but the community has definitely changed a lot since the NFT craze of last year - with more money comes more attention, and with that, more noise as well. Since there's not much happening on the chain these days most talks online has become more about beating Bitcoin rather than about product/technical achievements. Mid-term, I think ETH will do well financially since that seems to be its primary focus right now. All those big names that got in earlier this year probably are gonna do whatever it takes to make that happen. It's the development and cultural sides long-term that has me concerned since I feel like the more the BTC and ETH folks argue with each other they more they start to sound alike. I made a big leap from ETH to Tezos this year, after doing a lot of research on my end. Folks probably remember me shilling for Ethereum for a long time so the decision wasn't easy, but I felt it was necessary, at least for the things I'm interested in. - Tezos has been proof-of-stake since the very beginning of its launch and it has had time to refine its processes. Technologically, the Tezos stacks is far superior right now and ETH is going to have trouble keeping up, imo.) - The high gas fees basically made a lot of apps built on top of ETH useless and many devs/artists have already fled the scene. I'm skeptical if they're going to come back, even if they manage to fix the issues on the back end. Loss of trust doesn't come back easy. XTZ saw a big leap in chain activity last month while most other chains were still on the decline. - I think that the decision to not give ETH2 stakers a definite date of when they can withdraw their funds (probably the most annoying thing about the project right now especially since you literally can't do anything with ETH2 tokens atm) is probably unhealthy. This holding pattern allows for the project to manipulate economic outcomes artificially (acting as a quasi-government) at the cost of market legibility - which could make the asset more unpredictable long-term. - ETH still doesn't have on-chain governance and as far as I'm aware, has no plans to. You're basically trusting that the projects on top of it are doing things in good faith. Tezos, on the other hand, has voting and governance mechanisms baked in. (This is probably the biggest divergence between the two projects right now, imo.) - With Tezos I can get reliable staking rewards without having to have it locked up for an indefinite period of time, which seems like a much more reasonable deal to me, honestly. And I can actually use the coins for buying things I got caught up in things too, trust me - but as the world heads into a global recession (possibly a depression), everyone's probably going to have to tighten up what and where their money is going. The most obvious thing right now is interest rates - which proof-of-stake coins are well-positioned to take advantage of since the banks are still dragging their feet in regards to what it's offering to people in savings. Bitcoin is probably screwed, ETH is a (?), Tezos and other high-quality chains will probably do well. That's my hunch, anyway. I don't expect everyone to agree, but this is what my gut is telling me right now.
Long
by RyanTanaka
ETH's "Merge" Coming Sep 19th - The Good, The Bad, The UglySo if you've been paying attention to crypto stuff for a while, you probably heard that Ethereum's big "merge" is coming on Sep 19th. They've been talking about it for a while but there's now at least a definite date. (And they're pretty good at making deadlines once they commit to a date, to be fair.) The switch from proof-of-work to proof-of-stake should be an improvement to most things for the most part, but there's a few things people should know: - The coin is set to become a deflationary asset, out-scarcity-tizing (is that a word?) the coin it's trying to beat, Bitcoin. This should, in theory, be good for current ETH/ETH2 holders but even according to the team this is something that'll happen over time, not right away. (I think this argument is a strategic one, personally - more explanations later.) - The merge won't solve ETH's scaling problems - the "sharding" improvements are planned to come later, the earliest mid-2023. The idea was for ETH to "burn" its existing supply in order to keep gas fees down but we don't know if this is going to work in practice. - The merge will effectively put all ETH miners out of a job, and many of them will forced to move over into other chains since mining will no longer be profitable on ETH2 as the "difficulty bomb" sets in. If you've noticed ETC going up a lot recently, keep in mind that that project has already been hacked 3+ times at the protocol level and can't be considered legitimate. (The fact that it somehow stays alive is still bizarre to me tbh.) I've been with ETH since 2014 so I've seen a lot of changes happen within the ecosystem over the years - but the community has definitely changed a lot since the NFT craze of last year - with more money comes more attention, and with that, more noise as well. Since there's not much happening on the chain these days most talks online has become more about beating Bitcoin rather than about product/technical achievements. Mid-term, I think ETH will do well financially since that seems to be its primary focus right now. All those big names that got in earlier this year probably are gonna do whatever it takes to make that happen. It's the development and cultural sides long-term that has me concerned since I feel like the more the BTC and ETH folks argue with each other they more they start to sound alike. I made a big leap from ETH to Tezos this year, after doing a lot of research on my end. Folks probably remember me shilling for Ethereum for a long time so the decision wasn't easy, but I felt it was necessary, at least for the things I'm interested in. - Tezos has been proof-of-stake since the very beginning of its launch and it has had time to refine its processes. Technologically, the Tezos stacks is far superior right now and ETH is going to have trouble keeping up, imo.) - The high gas fees basically made a lot of apps built on top of ETH useless and many devs/artists have already fled the scene. I'm skeptical if they're going to come back, even if they manage to fix the issues on the back end. Loss of trust doesn't come back easy. XTZ saw a big leap in chain activity last month while most other chains were still on the decline. - I think that the decision to not give ETH2 stakers a definite date of when they can withdraw their funds (probably the most annoying thing about the project right now especially since you literally can't do anything with ETH2 tokens atm) is probably unhealthy. This holding pattern allows for the project to manipulate economic outcomes artificially (acting as a quasi-government) at the cost of market legibility - which could make the asset more unpredictable long-term. - ETH still doesn't have on-chain governance and as far as I'm aware, has no plans to. You're basically trusting that the projects on top of it are doing things in good faith. Tezos, on the other hand, has voting and governance mechanisms baked in. (This is probably the biggest divergence between the two projects right now, imo.) - With Tezos I can get reliable staking rewards without having to have it locked up for an indefinite period of time, which seems like a much more reasonable deal to me, honestly. And I can actually use the coins for buying things I got caught up in things too, trust me - but as the world heads into a global recession (possibly a depression), everyone's probably going to have to tighten up what and where their money is going. The most obvious thing right now is interest rates - which proof-of-stake coins are well-positioned to take advantage of since the banks are still dragging their feet in regards to what it's offering to people in savings. Bitcoin is probably screwed, ETH is a (?), Tezos and other high-quality chains will probably do well. That's my hunch, anyway. I don't expect everyone to agree, but this is what my gut is telling me right now.
Long
by RyanTanaka