Ether’s (ETH) 53% rally between July 13 and 18 gave bulls an edge in July’s $1.26 billion monthly options expiry. The move happened as Ethereum developers set a tentative date for the “Merge,” a transition out of the burdensome proof-of-work (PoW) mining mechanism.
Ether USD price index, 12-hour chart. Source: TradingView
According to some analysts, by removing the additional ETH issuing used to finance the energy cost required on traditional mining consensus, Ether could finally achieve the “ultra-sound money” status.
On Beacon Chain, the issuance will be around 1,600 ETH per day decreasing the inflation significantly from 13,000 ETH per day on PoW.
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Merge sets effects on monetary policies of Ethereum to become Ultrasound money.
(10/15) pic.twitter.com/9hWjhuGpNK
— Akshay Jain (@akshayjain865) July 25, 2022
Whether or not sound monetary policy revolves
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