The former chief executive officer of BitMEX crypto exchange Arthur Hayes predicted that the price of Ethereum may touch $3k soon because of the hype of “TheMerge” which will introduce better abilities for the Ethereum network to remain always at the top in the crypto space.
Ethereum is currently under huge discussion among crypto investors because of the ongoing development work in its ecosystem, to shift the Ethereum blockchain from Proof-of-work to Proof-of-stake Consensus to make it a scalable network.
The current trade price of the ETH coin is $1,613 and this price is 6.27% down over the last 24 hours’ trade price.
Recently Arthur Hayes, co-founder and ex-CEO of crypto exchange BitMEX, appeared in a podcast “Bankless Podcast”. Through the podcast, Arthur said that Merge will change the Ethereum blockchain network infrastructure and it will influence the price of ETH significantly.
BitMEX co-founder said:
“There will be less issuance of it, and it’s the only currency of this size that’s doing this switch…(..)…We know the emission schedule after the merge and the flows are going to be similar to Bitcoin halving.”
BitMEX co-founder also said that a successful merge will attract huge numbers of buyers in ETH and also the new policies & decisions by the Federal Reserve will not impact its growth.
Now only 22 hours remain until the completion of “TheMerge”.
Hayes also claimed that news of the TheMerge event is not overhyped & it was usual because it is a very important event for the whole crypto industry, so basically it will not hurt the interest of ETH buyers.
Alongside these things, BitMEX co-founder also explained that Merge didn’t impact the ETH price practically because it happened because the demand for ETH to pay gas fees is increasing while supply is decreasing.