Ethereum Merge: Ki jan ETHBTC ta ka allusion sou yon retou nan apeti risk

Pa NewsBTC - 1 ane de sa - Tan Lekti: 4 minit
Mèkredi 20 jiyè 2022 9:55 AM

Ethereum Merge: Ki jan ETHBTC ta ka allusion sou yon retou nan apeti risk

The merge is near, so it’s Ethereum time to shine. The eternal second most popular cryptocurrency by market capitalization has been outperforming bitcoin for the last few days. Is the reason the return of the market’s appetite for risk? Or is it just the fact that Ethereum’s developers announced a specific date for the mythical merge? Let’s examine the numbers, the facts, and the experts’ opinions to figure out exactly what’s going on.

In The Weekly Update, Arcane Research’s newsletter, they point out that the ETHBTC pair surged “ from 0.053 on July 12th to 0.7 on July 19th.” It’s at “levels not seen since mid-May,” but why? According to Arcane, it “might be related to increased risk appetite in the market, evident by sharp altcoin recoveries across the board.” They identify another factor, “Celsius repaid its DeFi loans. This contributed to reducing the downward gravitational pull enforced by potential liquidations and contagion-related uncertainty.”

Lè sa a, nan kou, gen nan fizyon an.

The facts are the facts, Ethereum is on a roll. In a previous report, NewsBTC analyzed the state of the market:

"Ethereum te kounye a kraze pi wo a yon pwen teknik enpòtan. Apre tandans anba a mwayèn k ap deplase 50 jou pou pi bon pati mwa pase a, ETH te ranvèse nivo teknik sa a epi li kounye a chita alèz pi wo a li. Enplikasyon sa a se te yon vire konplè 180 degre soti nan bearish a optimis, espesyalman pandan kout tèm."

Kòm pou kòz la pwobab, Arcane Research deja nonmen de. Yon sèl prensipal la, menm si, se posibilite pou fizyon an. Retounen nan Mizajou chak semèn:

"Jedi, 14 jiyè, manm Fondasyon Ethereum Tim Beiko sijere 19 septanm kòm dat lanse pwovizwa pou fizyon an. Sa a ta ka benefisye ETH, ki mennen ale nan vag semèn pase a. Apre anons sa a, siy ETH ki gen Lido a te pwoche bò kote egalite ETH."

In another NewsBTC report, we quoted another expert trying to make sense of the situation. According to Youwei Yang, director of financial analytics at StoneX, the causes for the recent surge are:

"Premye a se tan ki fèk anonse pou aktyalizasyon "fusion" Ethereum, ki ta dwe fè rezo a siyifikativman pi efikas nan enèji. Yang reklame ke "kalme" enkyetid macroéconomiques se dezyèm lan.

Chanjman soti nan Prèv-Of-Travay nan mekanis konsansis Prèv-Of-Stake la itilize mwens enèji, men li pote pwòp seri pwoblèm li yo avèk li. Diskite sa yo depase limit atik sa a. Pati enpòtan nan ekwasyon an pou moun ki gen Ethereum se ke fizyon an pral finalman pote jalonj natif natal nan blockchain la. Dè milye ETH ki deja fèmen nan Beacon Chain pral finalman pwodui rezilta reyèl, ak yon nouvo kalite itilizatè, validateur yo ap monte. 

Èske sa a ase jistifye gwo pri a? Absoliman. Èske li garanti ke fizyon an pral rive 19 septanm? Pwobableman pa, konsidere Ethereum te ranvwaye bonm difikilte li yo senk fwa deja.

According to Arcane, “contagion seems to be resolving now, with prices stabilizing. This recovery may be viewed as a healthy confirmation of the market normalizing as market stress settles down.” Their interpretation of the situation might be overly optimistic, though. A pseudonymous Twitter user that identifies himself as “a trader/defi analyst at a major crypto fund and use Nansen almost daily,” thinks more pain is on the way with or without the merge.

4/ There are dozens of wallets just like these that 3AC still has with thousands of ETH. It’s very likely that all of these wallets are going to be liquidated in order to pay back creditors. Check out the number of funds that have been moved around from just one wallet alone. pic.twitter.com/75HkR097zV

— jbjbjb (@bryptobricks) July 19, 2022

The Three Arrows Capital trial is still unfolding, and “3AC still has with thousands of ETH. It’s very likely that all of these wallets are going to be liquidated in order to pay back creditors.” If that happens, it’s “going to cause a harsh sell-off across the broader crypto ecosystem, setting up the next catalyst down.”

Padon pou lapli sou parad Ethereum a, men sa yo se reyalite yo. Bon chans ak fizyon an, menm si.

Sous orijinal: NewsBTC