Ethereum has been stealing more market share from bitcoin over the last couple of weeks. This is a result of the Merge announcement that took the space by storm about a month ago. Since then, interest in Ethereum has skyrocketed. But with the decline in price, investors are becoming warier about investing in the market. However, that does not mean that Ethereum is no longer a good buy. The Upcoming Merge For many, the news of the Merge is one that has been a long time in the making. This is why when developers announced that the Merge would be happening sometime around September 15th, the community erupted in joy. But besides just being an important upgrade, the upgrade has also served as a good buy signal for the digital asset. Related Reading: Institutional Investor Sentiment Remains Negative As Bitcoin Outflows Continue Firstly, with the move to proof of stake, Ethereum will consume about 99.95% less energy than it used to. This means that the concern of environmental pollution is eliminated for the digital asset and takes it off the radar of governments who are looking to sanction cryptocurrency mining due to how much energy they consume. ETH recovers above $1,600 | Source: ETHUSD on TradingView.com Another good reason is the fact that the ETH staked on the Ethereum 2.0 contract will not be automatically released. Presently, there is more than 11% of the total supply of ETH staked, with more being added daily. Develop...
