The crypto space has not been in the best of health over the past few weeks as the coronavirus pandemic and the associated turmoil in the markets took its toll. However, that does not mean that important developments have not been taking place in the crypto sphere amidst the turmoil.
Key Things to Watch
One of the most anticipated events in the crypto space at this point is Ethereum 2.0, and traders are eager to figure out how it is going to affect the price of the ETH token. The launch of Ethereum 2.0 is still a few months away, but it has created a lot of buzz in the crypto sphere already.
At this point in time, Ethereum is the second-biggest cryptocurrency in the world by market cap, and it is only natural that the launch has resulted in fevered speculation. It seems that experts believe the launch of Ethereum 2.0 is going to be a boon for the cryptocurrency. MetaCartel Ventures DAO Adam Cochran wrote a blog recently in which he stated that the launch could constitute the “largest economic shift in history.” It goes without saying that this is a bold claim, and it remains to be seen if it comes to fruition.
He stated that the staking rules with regards to Ethereum 2.0 could be the major boost behind the rise in the price of the cryptocurrency. Cochran revealed that the staking rewards of 3% to 5% could be a major incentive for big-ticket investors to join in. If that happens, then it is almost certainly going to have a positive effect on the price of ETH. That being said, investors should keep in mind that these are unprecedented times, and things could change very quickly. On that note, it is necessary to point out that the economic turmoil might actually prompt some big investors to stay away.
Featured image: DepositPhotos © Primakov
Risks and Disclosure:
Information provided in this correspondence is intended solely for informational purposes and is obtained from sources believed to be reliable. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained on this website is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions made or suggested and the actual results.
All statements and opinions expressed are the opinions of the author and not of Cryptocurrencynews.com or its officers. The author is wholly responsible for the validity of all statements. Cryptocurrencynews.com was not involved in any aspect of the article preparation. The author was not paid by Market Jar Media Inc for this article. The author did not pay Cryptocurrencynews.com to publish or syndicate this article.
Futures, stocks and options trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, stocks, and options may fluctuate, and, as a result, clients may lose more than their original investment and possibly their entire investment. Any content on this website should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Please see our full disclaimer here for additional details before making any investment decisions.