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After activation of The Merge update in the main Ethereum network, the price of the second largest cryptocurrency by long-term capitalization could rise as high as $ 5,000. Roman Nekrasov, co-founder of the ENCRY Foundation, said this in a conversation with ForkLog.
According to him, in the next month, the rate of ETH could undergo severe fluctuations. Nekrasov recommended holders to hold cryptocurrency over the next three months.
“In the future, 3-6 months, I expect the growth of Ethereum. With a number of favorable circumstances, the price of ETH can reach $ 5,000, ”the expert added.
At the time of writing, the second cryptocurrency is trading around $ 1,480, second CoinGecko.
The co-founder of the ENCRY Foundation questioned the real value Ethereum’s upcoming PoW fork (ETHW). He advised to pay attention to the coin Classic Ethereumbehind which “there is a serious development team”.
“The miners have started redirect GPUs to ETC mining from mid-July, when The Merge’s activation dates were announced. Pending the update, the price of Ethereum Classic has grown significantly and I believe it will grow further, “she said.
Although the reduction of the transaction fees to $ 0.05 is determined Vitalik Buterin as a goal, it is not worth expecting their sharp decline, Roman Nekrasov believes.
The introduction of the chardonnaywhich will increase the performance of the Ethereum network to 100,000 transactions per second.
“The Merge update still aims to solve the problem of increasing blockchain energy efficiency, and not scalability, although it sets the stage for this,” explained the expert.
The main challenge for developers after the network’s transition to the Proof-of-Stake (PoS) consensus algorithm will be the stability of Ethereum before attacks 51% and censorship.
“Some people pay attention to the fact that 30% of staking ethers are available to the popular service Lido. Others fear that the switch to PoS would lead to censorship of transactions at the request of the authorities, as miners were more anonymous than stakers. But both are still just fears, “Nekrasov added.
Recall that on September 15th at 9:42 am the Ethereum developers activated a large-scale update of The Merge in the main network. Blockchain successfully transferred to PoS.
Read more about the update in a special ForkLog article.
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