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The launch of Ethereum Merge is posing threats to the dominance of other ETH killer cryptocurrencies
Undoubtedly, Ethereum is one of the most successful investment assets in the cryptocurrency ecosystem, but with the emergence of the Ethereum Merge upgrade, the crypto is ought to be invincible. Ethereum is about to undertake the largest transformation in the history of the crypto market and this transformation is supposed to bring a paradigm shift in how its network operates. The emergence of the Ethereum Merge upgrade is putting the dominance of several top cryptocurrencies in jeopardy. Nevertheless, these cryptocurrencies are majorly the top ‘Ethereum-killers’ that you might have previously considered investing in. The ETH 2.0 upgrade is speculated to beat Ether’s toughest competitors and establish itself as the sole dominator of the crypto realm. Here are some of the top cryptocurrencies that are predicted to be adversely affected by the Ethereum Merge in 2022.
Bitcoin is undoubtedly one of Ethereum’s biggest competitors. ETH will become the largest cryptocurrency in the world if it manages to overtake Bitcoin. Currently, the value of Bitcoin is plummeting intensely, and experts speculate that ETH’s value might soon overtake Bitcoin’s.
Cardano is a contender for a more environmentally stable alternative to Ethereum. Crypto experts are currently keeping an eye on Cardano due to its overall modest performance, but unfortunately, the performance of the cryptocurrency might deteriorate after the launch of the Ethereum merge.
This user-focused, open-source project has grabbed eyeballs for its impressive security, modularity, and ability to be upscaled. Even though it deserves every bit of our attention, its value might plummet as ETH 2.0 will pose a tough competition to its dominance.
Solana is one of the fastest cryptocurrencies. Its ability to run wallets, decentralized exchanges, and other decentralized finance projects have caught the attention of investors from everywhere across the world, but the number of outages that Solana has faced has spooked the investment community this year. Ethereum’s new protocol will surely be a major hit that will overshadow Solana’s market value.
Avalanche is directly denoted as the newest and the toughest competitor of Ethereum. The surge of Avalanche was triggered in 2021 when the entire market surged. But if Ethereum is successfully able to deploy its upgrade, it might create trouble for the AVAX community.
Polkadot’s interoperability feature is what makes it one of the most sought-after cryptocurrency investments. This feature enables blockchains to communicate effectively. But Polakdot is also an alternative to ETH which might face tough competition after the launch of the Merge upgrade.
Binance is co-joined with the Binance exchange, one of the largest cryptocurrencies in the market. t has already carved a niche for itself when it comes to being one of the best-known cryptocurrency exchanges at the global level. With Binance’s programmable blockchain, the project developers can connect with potential investors through the Binance trading platform. But Ethereum 2.0 will soon beat BNB’s dominance.
It has always been doubtful if Chainlink can replace Ethereum. But if Chainlink follows its current trajectory, it will soon affect the cycle’s performance. Eventually losing to the dominance of Ethereum.
Zcash employs technology from a branch of cryptography and computer science called zero-knowledge proofs. But Ethereum 2.0’s advanced technology will be far more creative and innovative than that of ZCash.
XRP is an affordable alternative to Ethereum. But after the launch of the Merge upgrade, Ether transaction fees are also about to get quite affordable, rendering the value of XRP weak.