In a report looking at the ethereum Merge, Citi says there are key differences between previous upgrades and this one, because for the first time in their history, digital assets are facing tightening financial conditions, By willcanny99
Ether has gained 43% since the “post-Luna crunch” in mid-June, while its main competitors have lagged, with BTC declining 1.4% over the same period, the report said.
Citi notes that while there have only been three similar events in bitcoin’s history, there has been a tendency to rise in the ensuing 50 days. While BTC “halving” events only halve block rewards and – as a result – net issuance, ETH issuance is expected to decline by as much as 89%. The futures market is now at a $20 discount to spot after having traded at a premium until the start of June. Perpetual future funding rates have also turned increasingly negative as users sell short the perpetuals and buy spot ETH in order to be eligible for any potential airdrop, the report said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ether Eyes Price Rally After 'Wedge' Breakout, But Europe's Energy Crisis Zaps Risk AppetiteRussia's Gazprom announced an indefinite suspension of gas supply to Europe, bolstering inflation fears. The renewed risk aversion capped upside in ether.
Read more »
Ether and ADA in the green ahead of respective upgrades: This week in marketsHere's a weekly report on some of the biggest moves in crypto markets, with commentary by industry experts.
Read more »
Bitcoin, Ethereum Technical Analysis: BTC, ETH Below $20,000 and $1,600 Respectively, on Saturday – Market Updates Bitcoin NewsFollowing a brief rally above $20,000 and $1,600 respectively, bitcoin and ethereum fell below these levels to start the weekend.
Read more »
Surge or purge? Why the Merge may not save Ethereum price from 'Septembear'Options data, macroeconomic catalysts, and technical signals suggest a massive price decline in the Ether market.
Read more »
Ethereum network adds over 70,000 new unique addresses daily ahead of ‘The Merge’As Ethereum (ETH) prepares for the highly anticipated Merge upgrade, the network continues to record significant activity, considering that the... Continue reading
Read more »
Podcast: Why Bitcoin Faces a Tough Month Ahead | CoinMarketCapOn today's CoinMarketRecap podcast...new research suggests how to avoid volatility when you're buying and selling BTC ☝️
Read more »