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BYBIT X Nansen report on the state of crypto industry for August https://gagarin.news/news/how-does-staking-differ-from-mining/ 2022
Cryptocurrency practically restored growth after a rebound in July and August. And although in August there were no meetings of the Fed, investors still followed the statements of representatives to predict their next step in September. Growing inflation in the UK and Germany caused universal concern against the background of the peak of inflation in the United States, observed in July. Macroeconomic uncertainty does not give soil for bull -tension, but entails prolonged volatility. Due to the increased correlation between bitcoin and shares, any short-term correction of shares presses the upward cryptocurrency pulse.
Will “smart money” speculates about Ethereum Pow?
The merger is no longer around the corner, and the famous Chinese miner called for Ethereum hardfort, called Ethereum Pow. If the hard fork is successfully implemented, two networks will work in parallel. Although all tokens and NFT will be duplicated in the new hard fork, this does not make all these assets useless. According to some industry players, Institutional investors can maximize their benefits in preparing for the new hardforte, for example, convert all their assets on Ethereum in Weth before the hardcore. It is noteworthy that the speculations on Ethereum Pow do not apply to retail investors, since they probably will have to run their customers to trade.
Therefore, today, together with Nansen, we will see if smart money has been actively speculated on Ethereum Pow.