Ethereum’s switch to proof-of-stake in September will positively affect more than simply the price of Ethereum.
After waiting for years, Ethereum is ready to transition to a proof-of-stake (PoS) network fully. In addition to Ethereum’s native currency, Ether, the value of the number of other tokens has increased significantly and may continue to surpass ethereum following the Merge.
On August 11, the top smart contract platform finished the last of its three “Goerli” public testnets. Ethereum’s “Merge,” which is scheduled to launch on September 19, shouldn’t see any delays.
After the Goerli update, the price of Ether increased by 5% to over $1,950, its highest level in more than two months. In the meantime, several cryptocurrencies that stand to gain from a good merge are rising in value and, over the past month, have even outperformed Ethereum.
Ethereum Steps Closer To The Merge:
Will the price of these coins surpass that of Ethereum in September? Let’s look more closely.
Validators, who will be forced to front 32 Ethereum as an economic stake, will replace Ethereum’s legion of miners after The Merge.
Due to this significant staking requirement, companies that collect Ether from unfunded stakes and combine the funds to become validators on the Ethereum blockchain now have more chances. One of them is the Lido DAO.
Lido DAO is the top staking service in terms of wealth that has been secured inside Merge’s official smart contract. Specifically, it staked 4.15 million Ether into the Ether 2.0 contract, surpassing Coinbase, which invested roughly 1.55 million Ether on behalf of its customers.
A successful Merge can increase interest in Lido DAO services.
LDO, the platform’s official governing token, may benefit as a result, as its value had increased by over 200% since July 14, when Ethereum initially hinted that it would transition into a PoS chain in September.