Ether, the second largest crypto token by market capitalization, went through a new update by the name of Merge.
This update is going to change the consensus protocol of the crypto from proof of work to proof of stake, which means that Ether is going to become more economic towards the environment and will not have to deal with the terrors of crypto mining and blowing exuberant amount of energy to do just that as it would have the element of staking enforced by the merge update which will take care of mining activities for the blockchain.
70k New Unique Addresses
Everyone is all riled up in terms of the update returning big bucks to the investors who have invested heavily into the crypto after the update has been initiated. That is why there are more than 70K new unique addresses that have been introduced to the ecosystem of Ether, and investors are all lining up to buy as much Ether as they can get their hands on.
This is because of the news that after the implementation of the merge update, Ether is going to approach this bullish rally that will send the price of the asset soaring sky high, but a few analysts have a different approach to the merge update and the imaginative profit that investors think they are going to get.
According to CNBC analyst Brian Kelly, people think that they will be getting a huge chunk of profit after the merge update has been implemented, but they don’t know that all they will be getting is their cut after the earnings have been adjusted for inflation.
Ether has an inflation mechanism according to which the pricier the asset becomes, the less it is in overall value, which happens at various bullish cycles and not all of them.
According to the CNBC analyst, this is the cycle where inflation kicks in after the implementation of the merge update.
So, actually, investors will be getting their investments back after it has been adjusted for the inflation, and the merge update might sound all elementary and significant on paper, but in reality, it is just a riskier investment and nothing else.
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