Betting on the next King of 'money'
Will the prospect of reduced energy to mine ETH be enough to topple Bitcoin?
Energy use is a big issue when it comes to Crypto mining, so will Ethereum’s merger event be the catalyst for sweeping changes across the Crypto mining world?
The ETH Merge and what’s known so far about energy consumption:
- Ethereum's energy consumption will be reduced by -99.95% following the merger from proof-of-work (PoW) to proof-of-stake (PoS)
- After the Merge, Ethereum will use dramatically less carbon
Bitcoin mining has a large carbon footprint
Side by side price comparison
| Ethereum | Bitcoin | |
|---|---|---|
| Last | 1,592.50 | 20,245 |
| 3-Month %Change | 31.34% | -8.97% |
| 5-Day %Change | 2.51% | 7.27% |
| 1-Month %Change | -16.56% | -16.39% |
| 6-Month %Change | -50.44% | -55.44% |
It’s clear that ETH has outperformed Bitcoin during the previous 3 months
Digital Currency Ethereum (Daily chart over 3 ½ month period)
Bitcoin / U.S. Dollar (Daily chart over 3 ½ month period)
Not investment advice. Past performance is not indicative of future results. Trading cryptocurrency may not be available depending on your country of residence.
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