Ethereum is the second largest cryptocurrency with over $163 billion. The ETH blockchain enables numerous decentralized solutions and applications in the DeFi field. The bottom may be at an inflection point right now. In this article you can find out why the price may rise quickly soon and who will benefit from it.
The Great Ethereum Merger: A Starting Point for Price Gains?
On September 15, Ethereum developers completed the biggest update to date for the coin. Since that day, the cryptocurrency is using the proof procedure. The conversion had been planned for years and has been implemented step by step for months. The merger is the first part in the Ethereum 2.0 roadmap, which includes further network changes.
Now the second largest cryptocurrency is taking a big step towards sustainability and this was also necessary, because more and more cryptocurrencies are being criticized for their high power consumption. Bitcoin, for example, uses more electricity for mining than Switzerland within a year. This was also one of the reasons why China issued a ban on cryptocurrency mining in the country in light of its climate goals.
“The merger will reduce electricity consumption worldwide by 0.2%” – @drakejustin
— vitalik.eth (@VitalikButerin) September 15, 2022
By adopting the previous proof-of-work procedure, Ethereum reduced power consumption by 99.5%. Vitalik Buterin, one of the main developers of ETH, believes that the coin has solved 0.2% of the world’s energy problems.
The ETH coin is now CO₂ neutral and deflationary
With the merger, the developers killed two birds with one stone. With the historical update, the coin not only said goodbye to the high power consumption, but also to the hyperinflationary development and is now officially deflated. According to current data, token issuance has been reduced by 95% here. With the previous process, a total of 103,984,86 tokens were issued to the blockchain miners, since the change in these issues is only about 8,000 ETH.
But Ethereum developers have not yet reached their goal, they want a long-term, cheap, scalable and sustainable project on the market. In the future, the network will be subject to the Surge, Verge, Splurge and Purge to be even more user-friendly soon. Buterin said at a conference in France that the plans for the base are long-term and will be continuously developed.
The forecasts for the Ethereum Coin
Not only do these plans make the base more attractive to investors, the CO₂ neutrality now achieved should also attract some new investors. The influence of Ethereum crypto Thomas Kralow was very euphoric on Twitter. He estimates that the price of ETH could be at $10,000 soon.
My realist #ETHEREUM price forecast by 2025 👇👇👇👇 https://t.co/SLYfpn9DUn
You will be surprised!!! 🤣 pic.twitter.com/XvkZWagfkC
— Thomas Kralow (@TKralow) September 23, 2022
However, analysts’ expectations for Ethereum are very different. Some assume that the price of ETH will drop completely as a result of the merger, others see it as a great opportunity for the coin. Since the change, the price has been steadily decreasing, currently around USD 1,300. In the middle of last week, exactly seven days after the major update, it fell below the USD 1,300 mark. This is a long way from last year’s high of $4,150.
At btcdirekt.eu they are not fully impressed and the price is expected to exceed the USD 5,000 mark next year. With the energy efficiency and changes still to come next year, the merger is a course driver for ETH. According to this, a value of USD 3,000 should be set by the end of 2022.
The Lucky Block course could also benefit from the merger
Not only is the merger intended to advance their own market position, other coins may soon benefit as well, including Lucky Block. There has been a lot of movement here in the last few months as well. In this context, a new version was even created to serve as a trade mark.
The platform’s gameplay has also been completely redesigned. Users now have a chance to get much more profits and with the V2 version of the LBlock token they can also trade it, because, unlike the previous version, there are no transaction fees.
The second version of the token is based on Ethereum, it is already listed on LBank, MEXC and Uniswap. There should be price parity between the versions, so after a certain time they should correspond to the same value. In addition, users should be able to exchange coins with each other. However, all this is only possible with the Ethereum bridge.
This is still going through final tests, but on October 3rd it should be ready and the ETH bridge should be live. This makes the Lucky Block ecosystem much more powerful, easier to use and gives access to numerous applications in the Ethereum Metaverse. With the connection between the two networks and the acceptance of the merger, the two bases could soon benefit from each other.
Where to buy Lucky Block?
The Lucky Block token can only be bought and sold as the original V1 through a decentralized crypto exchange. We recommend PancakeSwap for purchase.
Step 1: Call Pancakeswap
Visit the PancakeSwap website for this. The following button takes you directly to the trading page where you can find the signal.
Step 2: Start trading
Now click on the “Trade” button, this will open a new window where you can choose the currency or token you want to pay and how many Lucky Block Tokens you want to buy.
Step 3: Attach a wallet
Now use the “Connect wallet” button and connect your wallet within a few minutes to complete the purchase. Now your desired currency will be converted to Lucky Block Tokens.