Smart Money bought the Merge narrative from Ethereum
Smart Money bought the Merge narrative from Ethereum
- nansen's Merge report showed that Smart Money has been increasing since June
- "Ethereum takes over and Smart Money jumps off on board [Away from Bitcoin]," said a digital-asset investor
The biggest investors from Crypto bought before the merger ether.
The upgrade of Ethereum from Proof-of-Work to the Proof-of-Stake is imminent, and the nervousness of the investors together with potential fork ether tokens have led to drainage from ether of credit platforms in the past few days. But institutional investors and "whales" with deep pockets have accumulated and staked out in the past few weeks, which signals the confidence that the merger will be successful.
Nansen researchers have found a steady purchase trend at whales and "smart money" since mid-August. The blockchain analysis platform defined Smart money as "experienced, well informed or 'knowing'" Rel = "Nofollow Noopener" Target = "_ blank" https://www.nansen.ai/following-the-erdsstanding-mart-mart-money-labels-and-how-to-up-them "> Fonds and large liquidity providers .
It is not surprising that investors who already have large quantities of ether are optimistic about the merger of Ethereum. But it seems that institutional investors see a purchase opportunity throughout crypto.
"For example, I saw a big fund [which IS] one of our investors who bought Coinbase, ETH stood up with a discount," said Harborne, CEO of the crypto exchange Rhino.fi, and added that he finds the fear of fork-related turmoil after the merger "Boring".
"The fusion will be successful. It will definitely be very smooth," said Harborne.
Smart Money may be more afraid of the broader macroeconomic environment than before software errors, especially since the latest US inflation figures were higher than expected. According to Max Williams, Chief Operating Officer at Runa Digital Assets, the merger has created perception that ether is the safest bet in the bear market.
"Given the macro -interior reason [The Merge] is the best catalyst" for crypto, said Williams to block works. "In the Bärenmarkt [Traditional Wisdom Says], you can stick to the safest assets, which really means Bitcoin, but [ether] takes over and Smart Money jumps quickly."
Ethereum Post-Merge is still faced with shaky macro prospects, and Williams predicts that the returns will decrease from demolished ethers next year, provided that the activities in the Ethereum network do not increase dramatically.
but Smart Money still finds the Proof-of-Stake Ethereum worth the risk.
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The contribution "Smart Money Has Been Buying the Ethereum Merge Narrative" is not a financial advice.