Analysts at consulting giant Fool are predicting what will happen after September, which will host the Ethereum merge. Experts also shared 2 altcoins to watch for the rest of the year.
Here are the 2 best altcoins to buy now
The crypto market has stabilized in recent weeks after a brutal start to 2022. Industry giant Bitcoin recorded a 37% recovery from June’s two-year low. On the other hand, smart contracts leader Ethereum has more than doubled from recent lows. However, both Ethereum and Bitcoin are still trading well below ATH levels. Crypto investors with a long-term view of the market expect 2x the top two cryptocurrencies. Also, a much smaller project with enormous growth prospects looks even more attractive right now. From the consulting giant Fool’s list, let’s see why these crypto names seem like great investments today.
Ethereum’s ‘merge’ is coming next month
The most obvious game changer on the table is Ethereum’s anticipated “merge” software upgrade. Ethereum developers are migrating ultra-secure PoW technology to PoS. This event will connect the Ethereum network with the Beacon Chain, which validates transactions with a PoS system.
Thus, it will end the mining practice of Ethereum tokens. An event usually held with the latest and greatest graphics processors from Advanced Micro Devices (AMD) and Nvidia (NVDA). This is bad news for AMD and Nvidia, but great for the Ethereum platform. The total power consumption of the system will be reduced by 99.95%. Also, transactions and smart contract executions will be much faster. Additionally, transaction fees will drop significantly. As a result, Ethereum will be ready for another round of efficiency boosts in future updates.
Co-founder Vitalik Buterin finally set a date for the final merge this week. The announcement boosted Ethereum prices by 14% in five days. Buterin now expects the tech change to happen on September 15, give or take a few days depending on the global hash rate to the last PoW block.
What will happen at the last Ethereum price from Merge?
The expected efficiency gains have yet to be reflected in Ethereum’s market cap. The cryptocurrency has largely matched Bitcoin’s price movements over the past year. Fool analysts do not expect Ethereum to rally on September 15. Therefore, a massive spike in token prices leading to the merge will be surprising. But Ethereum is positioning itself for a brighter future where app developers and users can benefit from a healthier technology platform at scale. According to experts, price increases will occur in the long term. But the consensus of experts that it will be in the next few years. cryptocoin.comAs you follow, Independent research firm FSInsight supports this prediction.
Which is the second altcoin?
MATIC ranked second in the list as an interoperability protocol. Polkadot Blockchain network provides developer-friendly glue that connects the pieces. The project is the official Blockchain protocol of the Web3 Foundation, co-founded by Ethereum co-founder Gavin Wood. Polkadot gained in value as it became popular in the real world to push the Web3 vision forward. Wood’s presence gives Polkadot instant credibility in the developer community.
Also, Polkadot starts at a much lower price point. Cryptocurrency total market cap is just $9.8 billion today. According to analysts, its long-term potential points to much more than that. Experts expect multi-package returns from today’s highly discounted Polkadot prices.
