CoinGecko Co-Founder Suggests How To Benefit From The Merge Of Ethereum
With Ethereum Merge expected just a few days away, Bobby Ong, co-founder and COO of major crypto data aggregator CoinGecko shared a few ways ETH holders can take advantage best upcoming events.
In a tweet thread on September 5, Bobby Ong said that one of the best ways for existing ETH holders to receive an ETH proof of work (POW) airdrop would be to tokenize their hardware wallet.
Meanwhile, Ong noted that it would be easier for investors if their ETH is held on exchanges that support the upcoming fork.
Other ways to secure ETH POW tokens are to withdraw liquidity from decentralized finance (DeFi) protocols and also advise traders to borrow Ether from Aave and Compound.
The CoinGecko CEO also said it is important for holders to unwrap Wrapped Ether (WETH) before The Merge occurs and also move all their ETH tokens back to the mainnet instead of keeping them on solutions. Layer 2 extensions like Optimism, Avalanche, Polygon, or Arbitrum.
Though Ong believes he might be eligible for fork tokens if his ETH is held on unattended wallets. Ong added:
“My strategy for these fork tokens is to sell them all immediately. Almost all the fork tokens are now dead as they are created solely to keep miners temporarily occupied with mining and have no incentive to grow their community and usage.”
The Merge was originally scheduled for September 19 but could take place earlier, September 15, according to the Ethereum Foundation. September 6 will take place the Bellatrix update.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
CoinCu News
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Ethereum
CoinGecko Co-Founder Suggests How To Benefit From The Merge Of Ethereum
With Ethereum Merge expected just a few days away, Bobby Ong, co-founder and COO of major crypto data aggregator CoinGecko shared a few ways ETH holders can take advantage best upcoming events.
In a tweet thread on September 5, Bobby Ong said that one of the best ways for existing ETH holders to receive an ETH proof of work (POW) airdrop would be to tokenize their hardware wallet.
Meanwhile, Ong noted that it would be easier for investors if their ETH is held on exchanges that support the upcoming fork.
Other ways to secure ETH POW tokens are to withdraw liquidity from decentralized finance (DeFi) protocols and also advise traders to borrow Ether from Aave and Compound.
The CoinGecko CEO also said it is important for holders to unwrap Wrapped Ether (WETH) before The Merge occurs and also move all their ETH tokens back to the mainnet instead of keeping them on solutions. Layer 2 extensions like Optimism, Avalanche, Polygon, or Arbitrum.
Though Ong believes he might be eligible for fork tokens if his ETH is held on unattended wallets. Ong added:
“My strategy for these fork tokens is to sell them all immediately. Almost all the fork tokens are now dead as they are created solely to keep miners temporarily occupied with mining and have no incentive to grow their community and usage.”
The Merge was originally scheduled for September 19 but could take place earlier, September 15, according to the Ethereum Foundation. September 6 will take place the Bellatrix update.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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