The cryptocurrency market has experienced enthusiasm in recent days. a state of euphoria that is somewhat related to the impending The Merge revolution on the Ethereum blockchain. While other projects appear to be doing well, Ethereum is undoubtedly gaining from this circumstance (+84% over the past 30 days). Here are 3 projects that are still gaining from the merger craze, without further ado!
The Merge is almost here!
The fusion, long derided for its endless delays, might proceed in the opposite direction this time. and come a few of days early. It’s possible that the date has already been advanced by a few days if crypto junkies have marked September 19 on all of their calendars. The merger is now scheduled to take place on September 15.
Concretely, the Ethereum blockchain will become more ethical from an ecological standpoint as a result of the switch from Proof of Work to Proof of Stake. resulting in a consumption decline of more than 99%.
1 – Ethereum Classic (ETC)
Ethereum Classic, which was created in 2016 as a result of a hard fork of the Ethereum blockchain, gains directly from the union. The Ethereum Classic blockchain is heavily luring miners from the Ethereum network since it is still based on a Proof of Work algorithm that demands processing power. In fact, the Ethereum blockchain is transitioning from a Proof of Work to a Proof of Stake model, from a time of miners to a time of validators. It is consequently important for individuals who have invested in mining equipment to keep their investment profitable. And some are already using Ethereum Classic for that purpose.
The asset increased from less than $14 to $42 in a little more than 4 weeks. Or a threefold increase in price, which would significantly beat Ethereum’s + 84% increase throughout the same time frame. Even now, Ethereum Classic is moving toward its March 2017 highs, which were its biggest highs of the year. They must be defeated by the token breaking the $50 barrier, a highly symbolic resistance level.
2 – Optimism (OP)
The OP token of the Optimism project has also increased nicely after the merger’s announcement on July 14: +250%. is superior to Ethereum Classic in every way. Because Optimism is a tier 2 (second layer) blockchain that provides a rollup service, the market has appreciated this project highly. In other words, after a consensus is reached, this blockchain collects information from off-chain transactions and injects it back into the main network. The price of the OP token increased from $0.45 to $1.60 during the course of the last 30 days, as shown in the second chart. The asset even reached $2.20 at its peak.
The Polygon network, which is likewise designed as a second layer blockchain and supports Ethereum, has a similar protocol. Optimism affects two things. First, the solution improves the flexibility of the Ethereum blockchain. However, it also enables the generation of substantially lower transaction costs.
This latest growth enables the project to enter the top 100 (ranked 106th) of the greatest cryptocurrency valuations. for a 372 million dollar worldwide market capitalization at the time this sentence was written. The likelihood that Ethereum may introduce Optimism to the network after the merger may help to increase the bullish momentum surrounding the OP token.
3 – Read the DAO (LDO)
As we have seen, validators will soon replace miners as a result of the merger. However, you still need a minimum of 32 ETH to play this function and contribute to network security, therefore it is out of most people’s price ranges. This high limit presents a chance for platforms like Lido DAO. In fact, Lido DAO can act as a validator by gathering and aggregating the ETH of minors through a pool effect. Furthermore, Lido DAO has been able to block more than 4 million ETH tokens because to the Ethereum 2.0 staking scheme. far superior to websites like Coinbase, which are considered to be more reliable.
On July 12, the token also experienced a strong increase when trading against $0.85. A surge that even brought it above the $2.80 threshold. The LDO token is currently trading for $2.58. That is a gain of about 200% month over month. The need for Lido DAO services could increase even more in the event of a successful merger. Additionally, use its LDO governance token favorably.
