Hayes Talks About the Upgrade to Ethereum’s Proof-of-Stake System
According to Arthur Hayes, engaging in the Ethereum Merge trade is “a no-brainer.” [Citation needed]
During an interview with Bankless on Wednesday, the co-founder of BitMEX discussed the upcoming Proof-of-Stake upgrade for the number two blockchain, which has been given the name “the Merge.” He also confirmed that he was long on ETH due to a significant change that the update is expected to bring to the network.
Hayes stated that ETH’s post-Merge issuance cut could serve as a catalyst for upward price momentum, going so far as to argue that it was “more powerful” than the current macro environment. The current macro environment has seen crypto and other asset classes enter a slump that has lasted for several months due to the Federal Reserve hiking interest rates to curb inflation. Hayes stated that ETH’s post-Merge issuance cut could serve as a catalyst for upward price momentum, going so far as