In today’s market, Ethereum news can be very confusing. While the price of the coin may initially skyrocket, there are several factors that can affect the price of ether. In the short term, it is more likely to fall than rise. One of the biggest factors is the negative macroeconomic outlook. As a result, the price of Ethereum is likely to decrease after the initial rally. This may result in a ‘buy the rumour, sell the news’ scenario.
CNBC Crypto World is a daily news show featuring the latest news on the digital currency markets. This program also provides insight into the future of the crypto market and features explainers and interviews with high-profile experts. For instance, in a recent interview, Alesia Haas, the chief financial officer of Coinbase, discussed her company’s Q3 earnings report and how Coinbase is preparing for the upcoming crypto bear market.
In another important piece of news, the Ethereum network will be upgrading to a more energy-efficient proof-of-stake method. This move will make the blockchain faster and more efficient, allowing for greater use of ether tokens. The change will also make ethereum more accessible to businesses.
One of the biggest hurdles for institutional investors has been energy usage. As a result, the crypto industry has been trying to reduce its energy consumption to lower their barriers of entry. In addition, the environmental benefits of mining cryptocurrencies have been a primary concern. The White House has recently issued a report warning that proof-of-work mining operations could interfere with efforts to address climate change.
In a recent testnet, developers tested a new version of Ethereum’s network called “merge.” The new version is expected to make the platform faster and more energy-efficient. As such, the network’s carbon footprint is expected to decrease by up to 99%. Additionally, the network’s security will improve as well. However, hackers are always going to be able to hack into it.
As Ethereum’s blockchain upgrade rolls out on Wednesday, many investors are anticipating the price to increase. Ethereum’s native token, ether, has soared 32% in the last three months, outperforming bitcoin. The price spike is largely due to the anticipation surrounding the merger.
