CNBC Analyst Says Upcoming Ethereum Merge Is Riskier Than Traders Realize
Brian Kelly claimed that there may be huge chances of risks associated with the upcoming upgrade in the Ethereum blockchain.
Ethereum is the second biggest crypto asset by 24 hours market cap volume and also it doesn’t need any kind of introduction to crypto Investors. Ethereum was initially launched on Proof-of-work consensus but now developers are doing blockchain engineering to shift the Ethereum blockchain on Proof-of-stake consensus, to make the Ethereum network highly efficient.
On 2 September, Brian Kelly, an analyst at CNBC, talked about the Ethereum upcoming development work “TheMerge” during the new episode of Fast Money.
Kelly said that some of the news are indicating that sell pressure on the ETH holders is increasing but still many crypto Investors are going toward ETH investment to enter The Merge event to earn yield.
CNBC Analyst noted that Yield reward for the investors is actually a mechanism of offsetting the inflation & nothing.
However, Kelly knows very well that majority of the people are buying ETH because of the most popular & most important upgrade in the Ethereum blockchain to make it highly efficient but still he thinks that there is an equal probability of occurrence a situation from the negative side because it may face failure, which is enough to create panic among the ETH Investors.
Kelly pointed out that there are not limited amounts of risks associated with it but also there are many types of questions, which may act as a catalyst to initiate panic.
Kelly raised concerns about what will happen with those Decentralized applications (DApps) in the Ethereum ecosystem if Ethereum blockchain Network will split into two chains.
“I think that there’s more risk to the Ethereum merge than people are giving credit for,” Kelly said.
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