Ethereum Set To Explode After Major Update, According to BitMEX Founder Arthur Hayes – Here’s Why
EthereumNakatakdang Sumabog ang Ethereum Pagkatapos ng Pangunahing Update, Ayon kay BitMEX Founder Arthur Hayes – Narito Kung Bakit08 / 12 / 2022Balita ng Ethereum ng Bitcoin One cryptocurrency exchanges former CEO expects the second-largest asset by market cap to rally once it completes a network upgrade. In a series of tweets, BitMEX co-founder Arthur Hayes nagpapaliwanag that Ethereum (ETH) finds itself in a curious situation called backwardation where the asset‘s spot price is higher than what it’s trading for in the futures market. Hayes naniniwala the discrepancy is due to traders‘ apprehension prior to ETH’s upcoming switch to a proof-of-stake (PoS) consensus mechanism thats scheduled for mid-September. The curve is in backwardation, that is futures spot, out until January 2023. My guess is because traders are hedging out ETH exposure pre-merge just in case. Source: Arthur Hayes/Twitter Hayes speculate on what might happen should the Ethereum upgrade fail by saying, “If the marginal pressure is on the sell side, then the market makers are long futures, and must short sell spot to hedge themselves. This adds downward price pressure to the cash or spot market.” Conversely, if the switch to ETH 2.0 goes smoothly, Hayes sabi ni two possibilities might play out. But what happens if the merge is successful,