Ethereum’s merge was one of the major events to happen in the cryptocurrency industry. It marked a huge change in the fundamental structure of Ethereum, moving the network from energy-intensive proof-of-work to proof-of-stake.
The merge was seen as a bullish factor for Ethereum’s price, with many experts predicting a massive increase in the future. Amid the hype, liquidity might somewhat flow from other coins to Ethereum, and here are some of the coins to watch out for.
IOTA is currently the 55th largest cryptocurrency by market cap, and there is currently less attention on the token at the moment. IOTA has significantly dropped since the beginning of the year, and ETH could easily gain against it.
Ripple is currently the 6th largest cryptocurrency by market cap. The price has corrected significantly amid the bear market. Moreso, there is a growing level of uncertainty for XRP because of the ongoing case with SEC, which is not good for the price.
Theta is a blockchain-powered video streaming network, and its token is currently the 46th largest crypto by market cap. Over recent months, the ecosystem seems to have stalled, and there is less momentum to push the price to the upside.
Litecoin is now the 20th largest cryptocurrency by market cap. It used to be one of the leading crypto coins. But it has been underperforming the market lately, and Ethereum could easily gain against it.
Stellar is the 25th largest crypto. Similar to Litecoin, Stellar has been losing ground to many altcoins lately in the absence of demand and market factors.
Overall, these coins are affected by the current bearish sentiments in the cryptocurrency market. Crypto and the traditional market have been facing serious headwinds due to the rising rate of inflation and the global economic crisis.