As Ethereum nears the Merge, the long-awaited technological change in the way it processes transactions, traders are deploying strategies to profit from the event, and their actions are injecting volatility into related markets.staked ether and the price of ether widened to 4.5% , the most since late June, according to data from Dune Analytics.
The latter would have ETHPOW as a native token, and ETH holders stand to receive it for free. Traders holding derivatives tied to ether or other ether-related tokens like stETH won't receive it. StETH may come under pressure as"regular holders switch to ETH to gain upside on ETHPoW work," research firm Block Analiticathe door for traders looking to borrow ETH ahead of the Merge on concerns the increased borrowing demand for ether would expose the decentralized lending and borrowing platform to liquidity issues.$33 million worth of staked ether from Curve's stETH/ETH pool, according to Adam Cochran, the founder of crypto fund Cinneamhain Ventures.
"In a downward bear market, It is better to hold a spot [ether] than to hold a bond of the same face value," he said.
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