Upcoming Ethereum Upgrade Attracts Institutional Investors…Details Here
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Answer Upcoming Ethereum Upgrade Attracts Institutional Investors…Details Here
The timing of the merge upgrade has been a focus of contention in the Ethereum ecosystem.
The developers expect the upgrade to be present around September 19th.
Revealing the details before the final testing phase of the event, and clearly setting the date for the upgrade, made investor sentiment shift towards investing in Ethereum.
Believes James Butterfell, Head of Research at CoinShares, said there is a change in investor sentiment.
In the latest edition of the Digital Asset Fund Flows Weekly Report, CEO Butterville attributed the shift in investor sentiment to more clarity about the timing of the merger upgrade.
The report highlighted that institutional investors are hedging their bets on Ethereum-based investment products.
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Where the inflows witnessed a total of 16 million dollars, while in seven consecutive weeks the inflows amounted to a total of 159 million dollars.
The report stated:
Ethereum saw total inflows of $16 million with inflows of $159 million recorded in seven consecutive weeks.
We believe this shift in investor sentiment is due to increased clarity on the timing of the merger upgrade as Ethereum switches from a Proof of Work mechanism to a Proof of Stake mechanism.
Upcoming Ethereum Merge Upgrade:
The merge upgrade aims to eliminate the energy-intensive mining process while at the same time securing the Ethereum network with the help of the Ethereum allocation mechanism.
After months of delay, the Ethereum mainnet will merge with the Beacon network to finally complete the transition from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) mechanism.
Ethereum 2.0 will enhance network efficiency and security, as well as significantly reduce the carbon footprint by reducing power consumption by over 99%, something that its predecessor has been heavily criticized for.
Ethereum proponents have reason to celebrate, but the transition will not be easy, especially with the emergence of some parties calling for a split from Ethereum and keeping Ethereum mined, such as Tron founder Justin Sun, who previously told that his trading platform Poloniex will list the coin. Digital ETHw for trading.
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BitMEX has also joined the list of ETHw supporters after it announced the launch of margin trading options for the cryptocurrency ETHPoW.
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