The much anticipated Ethereum Merge upgrade has finally come true. Starting today, the leading altcoin will work with the Proof-of-Stake consensus mechanism instead of Proof-of-Work. Merge, which has created great hype in the crypto money market for a long time, has not affected the ETH price for now. That is why many investors are wondering what the ETH price will be now. No one knows yet what ETH will do. However, the available data gives us some ideas.
7 altcoins likely to explode with Ethereum Merge doping
First, investors are carrying more and more ETH to exchanges. This usually occurs when investors are preparing to sell assets. Second, as some analysts have noted in the past, investors see Merge as a “buy the rumors sell the news” event. Accordingly, investors are now ready to sell their ETH as the Merge takes place. Meanwhile, there are some altcoins that have the potential to explode in the future with Merge doping, if not for ETH. These altcoins can get the maximum benefit from the Ethereum Merge upgrade.
Polygon (MATIC)
The undisputed leader in the Layer-2 space, Polygon will be the first to benefit from Ethereum Merge. This is because of a widely misunderstood topic about Merge. Many expect ETH to massively scale to 100,000 TPS with Merge. But Merge is just the beginning for ETH to achieve this scalability goal. To scale up to 100,000 TPS, ETH needs to go through 4 more stages of development.
However, Polygon will see more optimism in the first phase. With Merge, Polygon’s scaling solutions will have greater scalability and energy efficiency. This will further increase the already high institutional interest. As we reported as Kriptokoin.com, MATIC cooperates with many giant companies such as Disney and Meta.
Arbitrum
Number 2 on the list is Arbitrum One. Currently, the Arbitrum network does not have an altcoin asset. However, Blockchain will do a token airdrop soon. This layer-2 network has witnessed massive growth in its ecosystem over the past few months. Then, on August 31st, it released an upgrade called “Nitro” which led to a 7x increase in Arbitrum One’s production capacity. It currently generates 20% more daily transactions than before. Therefore, Arbitrum has the potential to be the biggest winner after Merge.
Optimism (OP)
3rd on the list is Optimism, another layer-2 altcoin. Contrary to popular belief, there will be no 100,000 TPS speed and transaction certainty on the Ethereum network after Merge. Therefore, those who try ETH will switch to layer-2s. As a result, these sidechains will witness massive adoption. Unlike Arbitrum, Optimsim already has a cryptocurrency called OP. As a result, the 3 layer-2 network on the list could see huge price increases as people become more realistic in their Merge expectations.
Algorand (ALGO)
Next up is Algorand, a layer-1 network. Algorand is among the projects that define itself as the “Ethereum killer”. But none of these projects is closer than ETH to solving the blockchain trilogy of decentralization, scalability and security. Still, Algorand is among the altcoin projects most likely to benefit from Merge. So why?
Primarily, Algorand markets heavily in 2 areas: FIFA and CBDCs. Both are very important. The FIFA World Cup, scheduled to be held in Qatar in a few months, will shine a light on Algorand. We are also seeing more and more governments getting involved in the CBDC concept. ALGO is at the forefront of helping governments issue CBDCs. As such, Merge has the potential to explode with doping and its own success.
Left (LEFT)
Solana started to gain strength against Ethereum in the NFT market. Solana’s NFT marketplace, called Magic Eden, is becoming a major player in the space and a serious competitor to OpenSea. For the Solana network to surpass Ethereum in the NFT space at some point in the future, it will be very beneficial for the growth of the network. Taking a share of the multi-million dollar NFT market has the potential to trigger an explosion in the SOL price.
Cosmos (ATOM)
Cosmos is among the most advanced ecosystems in crypto. EVMOS and Kava allow EVM assets to be traded on the Cosmos chain. Meanwhile, many see Cosmos as a layer-0 network rather than a layer-1. Cosmos, the internet of blockchains, is one of the altcoin projects that seem to continue to grow and strengthen after Ethereum Merge.
Binance Coin (BNB)
The last altcoin on the list is BNB. Binance Coin (BNB) is home to the world’s largest cryptocurrency exchange. It also powers an ecosystem called BNB Smart Chain. Smart Chain is one of the most advanced networks in the Blockchain space like Ethereum and Cosmos. This Blockchain is fully EVM compliant. For this reason, it seems that it will continue to grow with the doping that emerged after Merge.
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