The course of the second largest cryptocurrency Ethereum does not undergo any positive developments at the moment. Over the past week, the price of ETH has fallen over 25%. Find out why and what coin ETH could soon break in this article.
Ethereum: the hangover after the big merger
Ethereum developers have been planning to move the mining process to the proof system for several years. The announcement of this big change has already caused quite a stir in the ETH community.
Little by little, the team realized what they intended and the update arrived at every stage. A few days ago, on September 15, the merge with the “Paris” update was finally complete. So the second largest base moved to the proof process.
The Merger is Coming: UPGRADE YOUR CLIENTS!
• Bellatrix upgrade is scheduled for Beacon Chain time 144896 – 11:34:47am UTC on September 6, 2022
• The TTD value that triggers the Merger is 58750000000000000000000, estimated between 10-20 September 2022
— Ethereum (@ethereum) August 29, 2022
The previous proof of work process was criticized for its high energy costs. With the merger, Ethereum took a big step towards sustainability. The coin is now one of the green cryptocurrencies that saves 99.99% of energy with the proof process.
Economists have long urged Bitcoin developers to switch to the more environmentally friendly process. After all, the largest cryptocurrency consumes about 80 terawatt hours per year.
Ethereum course falls: a big criticism of the new procedure
Observations on the price of ETH showed that more and more investors and miners were saying goodbye as the update got closer. On September 10, the price was still above USD 1,700, a few days after the merger it dropped to around USD 1,200. It’s up to $1,360 today, a far cry from where it was earlier this year.
This is due to the numerous changes of investors and miners, who would have to completely refresh their hardware if they wanted to continue mining Ethereum coins. This would involve significant costs, which is why many miners have gradually decided to switch to another proof-of-work base. One of them is Battle Infinity, which may overtake Ethereum soon.
This is why Battle Infinity (IBAT) could outperform Ethereum
Battle Infinity is a sports fan icon, the Metaverse offers a wide range of games and applications for both sports and gaming fans. The developers behind IBAT aim to be the leading crypto gaming platform.
The numerous sports, fantasy and multiplayer games give users a great use case. You can create your own sports teams, create and customize characters, and earn a token or two in the play-to-earn game.There are six different realms in the Metaverse. The token can be bought and exchanged on the battle market. Players can design their avatars in the Battle Arena, and the IBAT Premier League is the first Metaverse NFT-based fantasy sports game to hit the market.
The Battle Stake, which went live a few days ago, allows users to generate passive income. The staking is divided into three categories, you can choose between single, duo and crates.
Record sales at IBAT: Developments of the brand so far
The IBAT pre-sale set a new record. It sold out within three weeks, and developers usually plan about 90 days for a pre-sale. During the pre-sale, 28% of the total 10 billion available were sold. LBank and Pancakeswap have already completed their first major listing plans.
Even after the IDO, the success of the token followed quickly, with the value more than doubling on the first day of trading. The price of IBAT rose as high as $0.005525, the rapid and significant rise prompted some heavy selling as investors sought to lock in big returns. That was to be expected with such strong developments. However, the course of the still young coin is positive and there are some forecasts with solid values.
IBAT Prognosis: Battle Infinity wants to go far
The token developers still have a lot of plans for Battle Infinity. The games are gradually appearing in the Metaverse. In the next phase, which is expected to start in January, the first beta game and battle app will be released.
So the developer’s roadmap is full of numerous applications, large and small, that should complete the Metaverse within the next year. The team has competition from the Axie Infinity Token, which is also a very popular NFT game. However, the IBAT platform should offer many more applications than its competitor in the future, which is why the developers assume that Axie users will switch to IBAT soon.
As a young brand, not only pre-sale and IDO are leading, especially advertising and social media enable the community to grow. The official Battle Infinity Twitter account is already followed by over 19 thousand people. Cryptocurrencies get a lot of attention through social networks, which can be very good publicity, especially for a new project, so investors learn that there is currently a very cheap project that they could get into .
When predicting IBAT, it should also be remembered that games are very popular in the crypto world, Axie Infinity started with a few coins and relied on NFT based games.
At Business2community.com, Battle Infinity predicts that the value will be between $0.02 and $0.075 by the end of this year. For the year 2023, there are figures of USD 0.05 and USD 0.02.
If the developers’ plan works and many Axie users switch to the IBAT token, it would result in a bullish price of USD 0.05 and a market capitalization of USD 500 million. The gaming segment does not offer many competitors to the young project, so positive developments are more likely.
So if, after the next step of the roadmap, the value of USD 0.05 is reached next year, that would be a plus of over 800%. With these developments, Battle Infinity would be well on its way to overtaking the course of Ethereum.