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JPMorgan Chase: ETC may be one of the main beneficiaries of ETH's shift to PoS.



Time:8/11/2022 12:19:02 PM

[JPMorgan Chase: ETC may be one of the main beneficiaries of ETH's shift to PoS] On August 11, JPMorgan Chase said in a report on Wednesday that ETH mining has become popular because of its profitability, and it has turned to mining other cryptocurrencies Could mean a short-term hit to profits. Additionally, a sudden influx of large mining pools into another coin could squeeze the profits of incumbents. Those ETH miners using ASIC (Application Specific Integrated Circuit) devices have few options other than ETC.

ETC miners could be one of the main beneficiaries of this shift, as there could be a surge in used mining equipment from ETH miners who decide to become ETH 2.0 validators. There are signs that this shift to ETC is already taking place, with a significant increase in hash rate since mid-July.

The most likely outcome of ethereum's move to PoS is for miners to distribute their rigs across different networks that support GPU mining as well as other applications for residual value, adding that as the transition nears, mining pools will likely transition smoothly. (CoinDesk)

Other news:

JPMorgan expects the Fed to raise interest rates sharply for the last time in September: According to news on August 22, strategists at JPMorgan Chase said that the Fed may raise interest rates sharply for the last time in September, and the stock market may continue to rise in the second half of the year. Strategists led by Mislav Matejka said the Fed is expected to raise interest rates sharply in September, but after that, the Fed will not surprise the market with any more hawkish moves. They expect the balance between economic growth and monetary policy to improve and "help the overall market recovery continue". They expect rate-sensitive growth stocks to continue to outperform value stocks even as investors remain concerned that the Fed may remain hawkish. (Golden Ten)[2022/8/22 12:41:42]

JPMorgan Chase: Bearish stock market is the trend of the moment, but this view does not hold water: On February 22, JPMorgan strategist Mislav Matejka and his team said that pessimistic expectations that the economic slowdown will drag down the stock market are the trend of the moment , but this view is wrong, "We believe that everyone should ignore the popular and widespread 'economic slowdown' view and continue to be bullish on the banking, mining, energy, insurance, auto, travel and telecommunications sectors." They pointed out that in the past In six months, contrary to pessimistic expectations, internal factors have become more favorable again. Given that financing conditions remain extremely favorable, with a very buoyant labor market, low levels of consumer indebtedness, strong corporate cash flows and solid bank balance sheets, it would be wrong to predict a recession. (Golden Ten) [2022/2/22 10:06:47]

Voice | Jiang Zhuoer: Facebook, IBM and JPMorgan Chase’s cryptocurrency attempts will affect half of the world’s population and capital: Leibit Mining Pool Jiang Zhuoer posted on Weibo that Facebook is from the social field, IBM is from the computing field, and JP Morgan Chase is from the financial field , (they start from) these several most critical industries in the world at present, and try to make cryptocurrency attempts. If their attempt is successful, it will affect more than half the world's population and more than half of the money. [2019/3/26]

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