Altcoins

These Altcoins May be the Best Bet For Traders Post Merge!

Written by: Qadir AK

Written by right arrow

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

  • author facebook
  • author twitter
  • linkedin

Sep 16, 2022

news-image

It’s been an exceptionally bearish week as most of the cryptocurrencies are trading in the red. Bitcoin, the world’s first cryptocurrency, has lost its $20,000 level and is trading around the $19,000 level. 

The second largest cryptocurrency by market cap, Ethereum, has also lost its key trading level and has dropped to around $1,400. Yesterday, the network entered into proof-of-stake from proof-of-work after the merge. However, the merger has had an adverse impact on the Ethereum price.

Meanwhile, raoul pal , co-founder at goldman sachs , a hedge fund company, has put forward his analysis of the altcoins that are set to outpace Ethereum after the ETH merge.

The expert believes that the Ethereum merger will be a positive event but the currency’s layer-1 competitors will be taking over because those assets are already enjoying scalability and affordability.

He feels that ethereum is still in its initial stage and by the time ETH hits that level, other platforms would have already gone too far.

As per the analysis data, a few leading layer-1 blockchains are solana (SOL), cardano  (ADA), polkadot (DOT), avalanche (AVAX), cosmos  (ATOM) and binance  Chain (BNB)

Raoul Pal also claims that yesterday’s Ethereum merge will surely impact a cycle in decentralized finance (DeFi) along with improving other financial projects in the crypto world

As per the reports, the merge will make the Ethereum network more sustainable and energy efficient as the network will reduce the use of energy by 99.95%.

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Related Articles

Back to top button