Now that the Merge is a reality, what market moves can we expect in the coming months?
. Since bottoming at $5.50 on June 18, ATOM’s price has gained 137.5% and, currently, is trading above $16. Analysis suggests that investors view the soon-to-launch liquid staking, ATOM being used as collateral for stablecoin minting, the launch of Cosmos Hub 2.
In the future, Ether could experience a supply shock and possibly become deflationary. Staking further secures the network while also providing guaranteed returns on deposited assets. In a market that is stuck in a downtrend, sourcing a safe, predictable yield could become more attractive. Essentially, Lilly is suggesting that it will take time for the fervor surrounding the Merge to settle and for investors to begin capitalizing on the benefits that the PoS Ethereum network could offer.I discussed how not much has really changed with Bitcoin’s price.
For this reason, investors remain largely risk-averse to most cryptocurrencies, and it is possible that repeat rejections at the long-term descending trendline and further retests of the $19,000 support could eventually result in a breakdown below the yearly swing low.and resident newsletter author at Cointelegraph. Each Friday, Big Smokey will write market insights, trending how-tos, analyses and early-bird research on potential emerging trends within the crypto market.
Disclaimer. Cointelegraph does not endorse any content of product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.
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