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Home Bitcoin News

This is Why Traders Can Expect ETH Price To Crash With the Ethereum Merger on Horizon

Crptoz by Crptoz
June 9, 2022
in Bitcoin News
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The Ropsten merge is an important step that must be taken before Ethereum transitions to the consensus layer—also known as ETH 2.0—this August. For example, it gives developers a review of how things will look in the future, after a complete transition to a less energy-intensive PoS algorithmic mechanism. Ethereum’s successful transition from PoW to PoS would be good for Ethereum’s own transition.

The Ethereum merger is simply defined as the network’s transition from the existing Proof of Work (PoW) to Proof of Stake (PoS), which further means that once the Ethereum merge is completed, The transition will go to all the stakeholders. of miners.

Ethereum’s newly transformed form of PoS uses much less energy than PoW. korpi 87, a DeFi teacher, gave a full analysis of the consequences of the Ethereum merge and its effects on the demand and supply structure.

CorePi’s Analysis on Ethereum Merger

CorePi’s analysis further shows that the overall supply and demand dynamics will change the daily selling pressure of ETH after the successful completion of the merge. Currently, it stands at $19 million with a buy pressure of $8.5 million – which would translate to a daily buy pressure of $8.2 million.

Korpi explains that:

“Currently 14,790 new ETH are issued daily to miners and stakeholders on PoW and PoS chains. In a merge block, both chains are merged and the PoS system is triggered. This number is reduced to 1590 ETH as only Stakeholders are rewarded for building blocks.”

Korpi, in its Twitter thread, adds an explanation of supply that is ‘only selling pressure from miners and stackers while they issue new ones and sell some consistently’. Apart from this, he points out that the demand is ‘only fee revenue burn’.

Citation:

“He assumes that miners sell 80% and they do not want to deposit crypto, but want to generate profit from operations, the cost of mining is also high, on the other hand, bets sell just 105 and many expenses to cover. No, all they want to do is submit.”

Korpi further clarified that after the completion of the Ethereum merge, there is going to be a new requirement of $10 million of new money every day to maintain the flat value. $8 million of existing holders will have to sell their ETH to stop the price from rising.

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