Ethereum's merger event is less than 48 days away, and some altcoins will explode after it goes live.
In today's video, we'll explain what changes will be implemented, whether Ethereum will become faster, cheaper, or not, and then we'll share with you our Top 3 altcoins that we think have huge potential before the ETH merger event.
Watch this video all the way through, so you don't miss anything.
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Now, let's get started.
First of all, what is the Ethereum Merge?
The Ethereum merge is the point at which the network plans to move off PoW and transition to PoS. It sounds like a simple task, but technologically, it will require a serious push.
Developers are dubbing the new network “Ethereum 2.0.” This transition is reminiscent of the upgrade from Web1 (the early public internet) to Web2 (the broadband/streaming/social networking era), as Ethereum developers were always aware of the limitations of using PoW. This means the merge is inevitable, even if most of the blockchain industry still uses the PoW mechanism.
The Ethereum development community is making good progress and we expect ETH 2 to go live in 2022. As of July 2022, the Ethereum core developers updated the Ethereum merge timeline with a tentative launch date sometime during the week of September 19th, 2022. There have been three testnets that were scheduled to be merged over the last couple of months and two of them have been successfully merged already. The final testnet is scheduled to be merged around August 11th. After that, the only thing left will be merging the Ethereum mainnet. We are very, very close.
The value of Ethereum has climbed 30% in just the past week on news that "The Merge" is tentatively scheduled for Sept. 19. Investors are speculating that there will be a lot of improvements to the blockchain and related Layer 2 blockchains, which live on top of the Level 1 Ethereum blockchain. But is it time to buy? Let's move on to the 3 altcoins that we think have huge potential in the Ethereum ecosystem over the next 48 days.
But please understand that this is not financial advice. You need to do your own research and you should never risk more than you can afford to lose.
Now, the first and probably least risky of all the coins is going to be Ethereum itself.
In our opinion, there are three major catalysts for value growth in Ethereum after "The Merge."
First, developers will have more options.
Right now, Ethereum can handle about 12 to 14 transactions per second, which means it's not suitable for high-volume traffic. Unfortunately, this isn't going to improve after "The Merge," but there are other reasons to be optimistic.
Developers have been working on a concept called sharding, which would increase the scale of Ethereum's Mainnet, but the anticipated benefits could be on Layer 2 blockchains like Polygon, which are the current focus of scaling solutions. In effect, sharding creates many blockchains out of one foundational blockchain.
Additionally, Energy concerns will fade.
One of the biggest concerns about Ethereum is the energy used to run its proof-of-work consensus mechanism in which vast numbers of computers must solve complex math problems to verify transactions. The Ethereum network is estimated to consume about as much energy as the Netherlands.
Moving to proof of stake, in which token holders will validate transactions, will reduce energy consumption by about 99.95%, according to Ethereum's estimates. This will ease one of the concerns that Ethereum's detractors have from the equation.
Moreover, Stakers will take ETH out of the market
Investors looking to generate passive income from Ethereum can do so by staking Ether, which generates a yield from users of the blockchain. The good news is that staking will take Ether out of the market, which could increase the value of Ether that's left trading.
If the blockchain increases activity, it could also increase the value of Ether because stakers see higher yields as a good alternative for their cryptocurrency. And that's why it's your first altcoin to look at seriously now more than ever.
Now, your number two crypto-currency is going to be Polygon. Since its June low of about $0.38, Polygon has already rallied close to a dollar, which is a 3-fold increase. Polygon's all-time highs reached $2.92 on December 27, 2021.
Now you may be wondering what its connection to Ethereum is, and why the Ethereum merger will blow it up.
Well, Polygon is the first well-structured and easy-to-use platform for scaling and developing Ethereum infrastructures. Its main component is the Polygon SDK, which is a modular and flexible framework for building multiple types of applications. With Polygon, it is possible to create optimized chains, standalone chains, or any other infrastructure required by the developer. Polygon effectively turns Ethereum into a full-fledged Multichain system. This Multichain system is similar to others such as Polkadot, Cosmos, and Avalanche while being able to take advantage of the security, dynamic ecosystem, and openness of Ethereum.
Right now, one of the main issues with Ethereum is that the gas fees can be very high, which can really shut out new users. With Polygon, things are moving faster, and the gas fees are much lower. You may have noticed that most of the time, Polygon follows the trend of Ethereum. That's because these two are indirectly linked.
You get the idea. So, the rise of Ethereum could lead to the rise of Polygon.
And that's why Polygon Matic is your number two altcoin crypto-currency.
Now your third and final altcoin is Uniswap. Uniswap is the largest decentralized exchange for ERC 20 tokens, making it very easy for users to trade tokens without the need for a centralized middleman. With this bridge, traders don't have to deposit their tokens on one exchange, but rather click a few buttons and exchange their Ethereum or any other token back and forth for the other. The Uni token is Uniswap's governance token.
The introduction of the v3 factors could help propel Uniswap cryptocurrency prices skywards, especially considering the available data shows that the update has already helped Uniswap become the largest DEX on the Ethereum network. Lower transaction fees have also made Uniswap more accessible to a new class of users.
Uniswap is a decentralized exchange built on Ethereum’s blockchain. Decentralized exchanges (DEXs) like Ethereum let investors or users swap cryptocurrency and data without needing to make an account with a centralized cryptocurrency platform like Coinbase or Binance. The platform transacts north of a billion dollars in cryptocurrency daily, and it’s the most used exchange for crypto and data transfer in the world.
Being the first largest decentralized exchange for Ethereum-based crypto-currencies leads me to believe that there will be a lot of eyes on this crypto-currency as well as the exchange. And the fact that the market cap is only $4 billion shows us that there could be some serious growth with this crypto and in our opinion, it's certainly undervalued right now.
So basically, these are the 3 altcoins that we think will go up once the Ethereum merger goes live.
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