[Weekly Readings] Ethereum Merge is now live,LUNC 31% Pump Confuses Investors as Token Will Most Likely Take Another Hit

HuobiPublicado a 2022-09-17Actualizado a 2022-09-17

Resumen

The change allows Ethereum holders to stake their coins in return for rewards.

1.The 'launch of a rocket' — Observers on the future of Ethereum post-Merge

The Ethereum Merge is set to occur later today with the energy-efficiency focused transition expected to have a major impact on crypto investment and adoption, experts say.

Speaking to Cointelegraph in the lead up to the Merge, StarkWare president and co-founder Eli Ben-Sasson noted that the Ethereum Merge will be the “first step in a process that will lead to exceedingly widespread adoption of Ethereum.”

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2.LUNC 31% Pump Confuses Investors as Token Will Most Likely Take Another Hit

In one of our previous articles about LUNC, one of the most successful prop traders in the space, Light mentioned how the marketing and business strategy chosen by the Luna Classic team is working against its supporters, and the most recent pump is a confirmation of this thesis.

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3.Why Bitcoin Could Be About to Pump if This Signal is Right - US CPI Explained

The leading cryptocurrency, Bitcoin, suffered a massive drop, losing more than 12% to $19,850 amid stronger-than-expected US CPI figures. Before the news release, technical indicators, particularly the 100-day moving average (MA), indicated the possibility of a bullish trend continuation. However, the BTC/USD has fallen below the moving average, resulting in a significant drop.

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4.Ethereum Merge is now live, bringing second-largest crypto asset into new era

The change allows Ethereum holders to stake their coins in return for rewards, and transforms the network into a far more energy-efficient model for processing and verifying transactions. Ethereum’s overall energy use is expected to plummet by about 99.9%.

The switch to proof-of-stake is also set to have a dramatic impact on Ethereum’s rate of inflation.

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5.Ethereum Classic (ETC) Leads Weekly Gains Amidst Crypto Market Reversal

The overall crypto market shows signs of price reversal from the downtrend, boosting investors’ confidence. To start with, the week started well for BTC as the market saw its price above $22K.

Bitcoin had traded below the $20K price mark until the close of the market on September 9, when it hit $21,381.15. BTC managed to hold down its fort at that price until Monday, September 12, when the market opened with impressive rallies.

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