This Altcoin Will Bring Big Profits to Binance!

The most popular topic in the crypto market lately is definitely the Merge of the leading altcoin Ethereum. The market is eagerly awaiting this upgrade. However, many stakeholders want to maximize the benefit that can be obtained from Merge. Crypto exchanges could also benefit from Merge, according to Wall Street bank JP Morgan. On the other hand, retail traders are likely to take profits in a possible ETH price increase right after the Merge.

“Coinbase could benefit greatly from leading altcoin upgrade”

JP Morgan predicts crypto exchange Coinbase will generate substantial revenue with the upcoming Merge. An analyst at the bank says Coinbase will be a ‘meaningful beneficiary’ of Ethereum Merge. Meanwhile, Coinbase has recently taken concrete steps to maximize the value of staking ETH for its customers. The analyst sees this as likely to play a role in generating higher revenues for the cryptocurrency exchange. In this context, the analyst makes the following assessment:

We expect institutional clients participating in staking to contribute significantly to ETH staking revenue. But given that we expect it to make a much smaller contribution for corporate clients, we see the opportunity to generate revenue is greater than the revenue opportunity. The vast majority of the economy remains with the individual.

Altcoins

“It is possible for Binance to make a good income”

JP Morgan analyst notes that it is possible to benefit from Ethereum Merge, not only Coinbase, but also other exchanges such as Binance, Gemini and FTX. “We anticipate that Coinbase will generate incremental staking revenue per year after Ethereum Merge of $650 million based on 2,000 ETH and 5% ETH return. We anticipate $80-100 million in annual staking revenue growth,” he explains.

Meanwhile, it is worth noting that the Ethereum Merge timeline is subject to technical changes. However, Ethereum co-founder Vitalik Buterin gave a September 15 date for the Merge upgrade. Merge will enable the consensus mechanism to transition from Proof of Work (PoW) to Proof of Stake (PoS). Experts expect the new mechanism to reduce energy consumption in Ethereum mining.

As seen from the market, the expectation and preparation of Merge has made a serious contribution to the rise of the altcoin price recently. AmkNews.com As you can follow from the news, last week ETH climbed just over $2,000, raising hopes for a bullish trend. It could not hold above this psychological level for long and slipped down. According to data from CoinMarketCap, the altcoin is trading at $1,841 at press time, down 2.13% in the last 24 hours. However, Ethereum stands 62% below its all-time high of $4.9k.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.