Former BitMEX CEO Arthur Hayes is predicting a massive rally for Ethereum (ETH) if two possibilities align.
In a new blog post, Hayes says that one catalyst that could ignite a strong rally for Ethereum is the success of its upcoming switch to a proof-of-stake (PoS) consensus mechanism, which is scheduled to launch in September.
The highly anticipated update will enable Ethereum’s mainnet to merge with its Beacon Chain, which already runs the POS system. The Merge, which will give rise to Ethereum 2.0, aims to address the network’s scalability issues by setting the stage for future upgrades.
Should Ethereum’s upgrade turns out to be a success, Hayes says that another factor that could serve as a tailwind for ETH is the Federal Reserve once