Classics: Mike Novogratz about Ethereum Merge: "Ensuring the supply of supply and demand"

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In September the Merge of the two Ethereum chains takes place. Billionaire Mike Novogratz, CEO from Galaxy Digital, looks optimistic about the Merge. In fact, the merger of the two chains should give some changes to Ethereum trading.

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as the Ethereum network started, the developers rely on the proof-of work consensus mechanism. As with the Bitcoin , the mining at Ethereum has been responsible for the fact that the network runs, transactions are validated and the validators receive remuneration accordingly. But Ethereum co-founder Vitalik Buterin was sure early on that it took changes to better scaling. In the course of an extensive upgrade to Ethereum 2.0, the proof-of-stake consensus mechanism is to be implemented.

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On September 19, the merge should occur in the course of this. "The Merge" describes the merger of the proof-of-work mainchain and the new Beacon chain, which is based on Proof-of-Stake. Mike Novogratz, CEO from Galaxy Digital, sees an increasing course from Ethereum.

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Mike Novogratz sees upcoming postponement in supply and demand from Ethereum

in A conversation with the Squawk Box from CNBC on August 10 explained Novogratz that he is currently particularly in demand from Ethereum due to the upcoming Merge upgrade.

"It has moved a lot, but this Merge is a big deal, it takes the mining offer that was constantly sold, and actually blocks it in something we call Hodler and long-term contracts, so you will see that you will see that The imbalance between supply and demand in Ethereum really shifts. "

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" The prices are always set on the margin, so I think that the enthusiasm that this merge will finally happen will continue to pull money in Ethereum, "he added .

In fact, there should be a major change in the Ethereum Commercial Ecosystem. The background: Ethereum mining is associated with high costs. Companies finance these with the Ether coins obtained from mining. In order to cover all costs, mining centers must sell these coins on crypto exchanges or OTC trading places.

is also likely to sell staking junvoses regularly, but Ethereum could finally deflate staking junvels regularly by upgrading to Ethereum 2.0. This is possible through an implemented burning algorithm.

Ethereum course in the upper

is positive not only the news situation around the merge, but also the development of the Ethereum course. Inspired by the new inflation figures from the USA, the Ethereum course has increased by more than eight percentage points in the past 24 hours. The second largest cryptocurrency is currently listing at around $ 1,840. The all -time high of around $ 4,890 that Ether reached in November is still a long way. However, the Ethereum course in June had fallen to less than $ 1,000. Since then, the course has increased by almost 100 percent again.

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