Former CEO of BitMEX bitcoin exchange Arthur Hayes, in an interview with Bankless, allowed Ethereum quotes to soar to $3,000 after the main network of the second largest cryptocurrency by capitalization switched to a consensus algorithm Proof-of-Stake (PoS).
In his opinion, the reduction in the number of ETH will be a powerful impetus for the growth of the asset price. Hayes called the development of the DeFi segment another factor in the increase in demand for Ethereum.
He believes that the activation of The Merge update would be a great stimulus for the growth of the second cryptocurrency by capitalization, if not for the collapse of Terra and the bankruptcy of Three Arrows Capital in a few weeks before announcement.
Ethereum Switch to Proof-of-Stake (PoS): Everything You Need to Know
As a reminder, the Ethereum developers scheduled the mainnet migration to PoS around September 15th.
September 6th they activated the Bellatrix update. The upgrade is the last step before The Merge.
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