The Ethereum Merge is one of the most anticipated crypto events of the year. Because of it, crypto businesses are keeping an eye out for any snags that may arise as the freshly improved Ethereum network goes live. Alexander Höptner, CEO of crypto exchange BitMEX, discussed how their trading platform is preparing for the Merge, the possibility of institutional adoption following the switch to proof-of-stake (PoS), and his opinions on Bitcoin (BTC) and Ether (ETH). Apart from ticking all the boxes on conventional corporate preparations for major events, Höptner believes that the most essential thing is to pay careful attention to what can happen and ensure that their services are operational.
When asked about prospective proof-of-work (PoW) forks, the BitMEX CEO stated that a fork is OK as long as it is backed by a large community. Höptner emphasized that a big danger for forks is a lack of support among miners. Another point raised during the discussion was the issue of institutional adoption following the Merge. With big players expanding their offerings to institutional players, the BitMEX CEO feels that a PoS Ethereum is more appealing to organizations since it solves the environmental story that institutions are most concerned with.
Movement of Ethereum in the last five years. (Source: Trading Economics)
Sources:
https://tradingeconomics.com/ethusd:cur
https://www.forbes.com/advisor/in/investing/cryptocurrency/why-is-ethereum-going-up/
https://cointelegraph.com/news/ethereum-merge-can-trigger-high-volatility-bitmex-ceo-warns