26,000 $ETH put options bought with $400 strike price
to plummet that much once the Ethereum locked in the ETH 2.0 deposit contract is allowed for withdrawals after the Shanghai upgrade. This upgrade is scheduled for the first quarter of this year — half a year after the Merge took place in mid-September.January 7, 2023
As the Merge was implemented, Ethereum switched to the proof-of-stake consensus protocol from the proof-of-work one, thus becoming more energy saving compared to Bitcoin, LTC, DOGE and other first generation cryptos that are mined via PoW. At press time, Ethereum is changing hands at $1,263, having shown a small rise of 1.53% in the last 24 hours, according to CoinMarketCap data.
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