Sunday, April 28, 2024
Sunday, April 28, 2024
HomeNewsOther NewsCrypto Traders Are Currently Putting Bets on Ethereum's 'Shanghai Hard Fork'

Crypto Traders Are Currently Putting Bets on Ethereum’s ‘Shanghai Hard Fork’

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Jeff Dorman, primary financial investment officer at the digital-asset management company Arca: “Most investors have heard of blockchain now and want to somehow make money if blockchain succeeds. For the last five years, almost every investor has tried to find different ways to express that theme. But for the first time ever, we’re coming out of a bear market with real product market fit,” that includes 4 locations: bitcoin, stablecoins, non-fungible tokens (NFTs) and decentralized financing (DeFi). “If you want to express all of those areas of blockchain with one investment, it would be Ethereum. It has wrapped bitcoin, the largest stablecoin presence, the largest NFT presence and the largest DeFi presence,” he stated, including: “In some ways, ETH is basically a crypto index now.” Dorman stated he would not fret about the prospective sell-off pressure from opening staked ETH following the upgrade: “There might be some pent-up demand to get liquidity from those who have had no liquidity for the last six or so months, but that will easily be replaced by people who didn’t stake the first time because they needed liquidity.”

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