The second largest decentralized crypto platform Ethereum (ETH), is finally transitioning from PoW to PoS.
This upcoming event has stirred mixed feelings among crypto enthusiasts and Ethereum (ETH) platform users.
However, an analyst Kenneth Worthington who works for investment banking firm JP Morgan has recently said that pioneer crypto platform Coinbase will immensely benefit from the shift in the consensus mechanism.
This event, scheduled for September 2022, a few weeks from now, will open the doors of added revenue for the platform.
This is because Coinbase holds about 15% of the Ether market share; staking this token will provide more yield. After all, it powers not only the Ethereum (ETH) network but also the transition.
According to JP Morgan, post-merge Coinbase can make up to 650 million dollars in annual staking If Ether stabilizes at 2000 dollars with a 5% yield.
However, presently Ether is dangling around 1,862 dollars and still struggling to stabilize at 2000 dollars though some speculators predict that it will break the resistance after the transition.
Further, with the merge approaching, some crypto analysts have advised Ether holders to be extra careful about their business decisions.
They should not take too much risk or leverage too much because of increased volatility in the crucial period.
All crypto assets should be securely stashed somewhere safe, maybe in a trusted exchange or cold wallet.
Security should not be taken with levity, and if you are confused about what to do on a transaction you are about to perform, it’s best to do nothing.
This, in effect, can save you a lot of headaches that come with losing all your funds or part of it from ignorance.