Crypto

Crypto traders are already placing bets on Ethereum’s ‘shanghai hard fork’

Jeff Dorman, Chief Investment Officer of digital asset management firm Arca: “Most investors have heard of blockchain by now and somehow want to make money if blockchain is successful. Over the past five years, almost every investor has tried to find different ways to express this theme. But for the first time ever, we are emerging from a bear market with a true commodity market adjustment,” which includes four areas: bitcoin, stablecoins, non-fungible tokens (NFTs), and decentralized finance (DeFi). “If you want to express all of these areas of the blockchain with one investment, it would be Ethereum. It has wrapped bitcoin, the largest stablecoin presence, the largest NFT presence, and the largest DeFi presence,” a- he said, adding, “In some ways, ETH is basically a crypto index now. Dorman said he wouldn’t be concerned about potential selling pressure from unlocking staked ETH. post-upgrade: “There might be pent-up demand for cash from those who haven’t had it for about six months, but will be easily replaced by people who didn’t stake the first time around because they needed cash.

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