Arthur Hayes: "If the merger is successful, the price of ether will rise to $3,000"

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The former CEO of BitMEX suggested that this year, thanks to the upcoming transition of Ethereum to the Proof-of-Stake consensus algorithm, the ETH rate will reach$3000 mark.

Arthur Hayes said that the reduction in the number of ethers after the successful transition to Ethereum 2.0 will beAfter the Merge , the daily emission rate of the coin will dropfrom 13,000 ETH to 1,600 ETH.The rate of the crypto asset will be affected not only by a sharp reduction in the quantity, but also by the need of users to use the Ethereum network.Now it is on the basis of this network that decentralized applications are being created, statesHayes:

"As long as there is no drop in interest in DeFi projects, the demand for EtherTherefore, the price of the coin should rise despite the prolonged downturn of the cryptocurrency market and the current macroeconomic environment, with the U.S. Federal Reserve raisinginterest rates to curb inflation."

According to a forecast made by a former BitMEX executive in April, the Ether rate should reach $10,000 this year.Now Hayes's predictions are no longer so bold, and he decided to lower the bar to $3,000.The expert explained that even after the merge of Ethereum, the rate of the coin canundergo a short-term drop of about 20%.

This week, the developers of Ethereum activated the Bellatrix update.The Merge should be completed in less than a week, after the deployment of the Paris update.However, Hayes thinks it is reasonable to doubt that this event will take place.Ethereum's Merge has been talked about for years, so it's possible that something could happen in the transitionIn addition, the cryptocurrency community would have been more optimistic about Ethereum's successful transition to PoS if it were not for the liquidity crisis following the collapse of the Terra project in May.

Recently, Hayes suggested that in the event of a failed merge , the Ether price couldcollapse sharply, but should not fall below $800.