CZ CEO Binance – Finally My New Prediction After Ethereum Merge

CZ CEO Binance – Finally My New Prediction After Ethereum Merge

At the time of writing, the most anticipated crypto event, Ethereum’s transition from Proof of Work (PoW) into a Proof of Stake (PoS) consensus mechanism is just a few hours away. Many are heralding the merge as one of the most significant events in crypto history. While the overall consensus is that in the long run, the merge will benefit crypto (if all goes smoothly), many pundits are mixed about how the market will react initially. There is a bearish sentiment surrounding Ethereum, as last week, Ethereum products accounted for $62 million out of the $63 million that flowed out of cryptos. On top of the CPI report, Ethereum tumbled by more than 10% to hit a low of $1,564 but quickly recovered, as Ethereum currently sits at $1,607.68. In an interview with CNBC International TV, CZ, founder and CEO of Binance, shared his sentiment about the merge and the current crypto winter. CZ believes long term, Ethereum is making the right move and it’s great for the industry, but in the short term, it won’t be what most people expect.

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