Mike Novogratz is still a crypto bull, even in the midst of an awful year for prices. Going into the rest of the second half, the Galaxy Digital CEO says ether is his highest conviction crypto trade, for now. “Right now it’s Ethereum,” he told CNBC’s Squawk Box Wednesday. “It’s moved a lot but this merge is a big deal.” The “Merge” refers to the long-anticipated transition of the Ethereum network to a proof-of-stake consensus mechanism from proof-of-work. The change affects how transactions are validated and is expected to cut Ethereum’s energy consumption by more than 99%. It’s due to take place in September and many are expecting the price of ether to jump when it’s completed. “Prices are always set on the margin so I think that was the enthusiasm – this merge finally happening – that is going to continue to draw money into Ethereum.” Ether has been leading the crypto rally in the current quarter , according to JPMorgan, thanks to enthusiasm around the long-anticipated Ethereum...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...