The Ethereum Merge is set to take place on September 15 and 16 after the successful launch of the final testnet (testnet) Goerli. The upcoming transition from PoW to PoS is expected to change the tables for the second largest crypto facing the problem of high gas fees at low speed. However, Merge may also positively impact other altcoin projects. Here are the details…
What will happen in Ethereum, the largest altcoin, with its Merge
Ethereum is expected to switch from proof-of-work consensus algorithm to proof-of-stake on September 19. However, Merge is expected to resolve these issues and create bullish momentum in ETH price. On the other hand, the community seems pretty excited as ETH prices surged above $2,000 following the announcement, as social volume increased significantly. ETH price broke a 10-day high after staying below $1,750 for an extended period of time. Currently, ETH is changing hands at $1,996, with an increase of 5.4 percent. Meanwhile, along with ETH, there are several cryptocurrencies that could see their price increase due to Merge. Here are the coins that will rise with Merge, according to analyst experts…
Bullish prospect for altcoin Lido DAO (LDO)
The upcoming Ethereum merge will replace miners with validators. As we have also reported as Kriptokoin.com, validators need to stake 32 Ethereum. This method of staking has opened doors for platforms that receive ETH from non-profit stakers and pool profits to become a validator on Ethereum. Lido DAO provides such a platform. Lida DAO is one of the largest staking service platforms by value locked under Merge’s official smart contract. The firm ranks second as it has invested 4.15 million ETH in the ETH 2.0 contract.
Therefore, if the Ethereum merger is successful, the Lido DAO will certainly benefit greatly – not only to the firm, but also to their native token LDO. LDO has witnessed an increase of more than 200 percent since July 14, right after Ethereum announced its possible transition from PoW to PoS.
Ethereum Classic (ETC) is also in a bull run
Ethereum Classic (ETC) has been going through a bull run for the past few weeks as miners plan to exit the Ethereum network and switch to Ethereum Classic. As Ethereum Classic is the result of a controversial hard fork in 2016, it has almost all the technical features of the current PoW Ethereum network, making it an ideal haven for ETH miners. In terms of price action, Ethereum Classic is up almost 200 percent since the day Ethereum Merge was announced. Therefore, the price increase is likely to continue with the merger.
Optimism (OP) is also among the coins that can rise
The last on the list is altcoin Optimism (OP). Optimism is a backup and restore service for Ethereum. It consolidates large amounts of off-chain transaction records into batches. Once consensus is reached, it transmits the results to the Ethereum mainnet. Even Optimism (OP) after Merge can experience a positive momentum in price. Optimism’s local government token OP has seen an increase of nearly 250 percent since the Merge announcement.
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