{"id":66867,"date":"2022-09-08T13:39:00","date_gmt":"2022-09-08T10:39:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66867"},"modified":"2025-09-07T03:35:44","modified_gmt":"2025-09-07T00:35:44","slug":"chainalysis-notes-price-divergence-between-ethereum-and-bitcoin-after-the-merge","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/chainalysis-notes-price-divergence-between-ethereum-and-bitcoin-after-the-merge\/","title":{"rendered":"Chainalysis notes price divergence between Ethereum and Bitcoin after The Merge"},"content":{"rendered":"<p>The price of Ethereum could display dynamics independent of other digital assets after<a href=\\\"https:\/\/forklog.news\/the-merge-perezapustit-li-rynok-masshtabnoe-obnovlenie-ethereum\/\\\"> \u0441\u043b\u0438\u044f\u043d\u0438\u044f<\/a>, as staking would make the second-largest cryptocurrency resemble bonds or exchange-traded commodities. This is according to Chainalysis in its study.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">16\/ Read more about these on-chain metrics to get more insights into the merge\u2019s potential impact on crypto markets. <a href=\\\"https:\/\/t.co\/9uuvX8Kn6T\\\">https:\/\/t.co\/9uuvX8Kn6T<\/a><\/p>\n<p>\u2014 Chainalysis (@chainalysis) <a href=\\\"https:\/\/twitter.com\/chainalysis\/status\/1567500341339455488?ref_src=twsrc%5Etfw\\\">September 7, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The upcoming September 15\u201316 merge will lead to a surge in institutional investor interest. They will be attracted by an expected annual yield of 10\u201315%. The indicator will exceed the returns from such financial instruments as bonds and commodities.<\/p>\n<p>According to Chainalysis, the number of institutional Ethereum investors (with balances of more than $1 million in ETH terms) has \u201csteadily grown\u201d \u2014 from fewer than 200 in January 2021 to about 1,100 by August this year.<\/p>\n<figure class=\\\"wp-block-image size-full is-resized\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1-722.png\\\" alt=\\\"\u0412 Chainalysis \u0434\u043e\u043f\u0443\u0441\u0442\u0438\u043b\u0438 \u0440\u0430\u0441\u0445\u043e\u0436\u0434\u0435\u043d\u0438\u0435 \u0446\u0435\u043d Ethereum \u0438 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 \u043f\u043e\u0441\u043b\u0435 The Merge\\\" class=\\\"wp-image-184201\\\" width=\\\"840\\\" height=\\\"418\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/1-722.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-722-300x149.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-722-768x383.png 768w\\\" sizes=\\\"auto, (max-width: 840px) 100vw, 840px\\\" \/><figcaption>Data: Chainalysis.<\/figcaption><\/figure>\n<p>A faster rise in the metric after The Merge would confirm the hypothesis that institutions &#8220;are indeed viewing staking the second-largest cryptocurrency as a sound profit strategy.&#8221;<\/p>\n<p>Experts also noted<a href=\"https:\/\/u1f987.com\/en\/news\/three-arrows-capital-pulled-33-million-in-steth-from-curve-liquidity-pool\"> the divergence between Ethereum&#8217;s price and its synthetic counterparts<\/a>, which unlock value locked in smart contracts.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cThe Shanghai upgrade (6\u201312 months after The Merge) [\u2026] will allow withdrawals of assets, providing greater liquidity for players and making staking more attractive\u201d<\/em>, according to the report.<\/p>\n<\/blockquote>\n<p>Experts also noted the move away from energy-intensive mining with a reduction in energy consumption \u201cby more than 99%.\u201d This will boost comfort for investors aiming to meet <a href=\\\"https:\/\/ru.wikipedia.org\/wiki\/%D0%AD%D0%BA%D0%BE%D0%BB%D0%BE%D0%B3%D0%B8%D1%87%D0%B5%D1%81%D0%BA%D0%BE%D0%B5,_%D1%81%D0%BE%D1%86%D0%B8%D0%B0%D0%BB%D1%8C%D0%BD%D0%BE%D0%B5_%D0%B8_%D0%BA%D0%BE%D1%80%D0%BF%D0%BE%D1%80%D0%B0%D1%82%D0%B8%D0%B2%D0%BD%D0%BE%D0%B5_%D1%83%D0%BF%D1%80%D0%B0%D0%B2%D0%BB%D0%B5%D0%BD%D0%B8%D0%B5\\\">ESG-\u0441\u0442\u0430\u043d\u0434\u0430\u0440\u0442\u043e\u0432<\/a> \u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u043e\u0432.<\/p>\n<p>In September, Ethereum<a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-developers-activate-bellatrix-upgrade\"> activated the Bellatrix upgrade<\/a>. The upgrade is the final step before migrating the mainnet to the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-proof-of-work-pow-algorithm\">Proof-of-Stake<\/a> (PoS) algorithm.<\/p>\n<p>Earlier, analysts at Glassnode concluded that after The Merge Ethereum<a href=\"https:\/\/u1f987.com\/en\/news\/glassnode-ethereum-poised-to-become-deflationary-after-the-merge\"> will likely become deflationary<\/a>.<\/p>\n<p>In April, former CEO and co-founder of BitMEX Arthur Hayes<a href=\"https:\/\/u1f987.com\/en\/news\/bitmex-co-founder-forecasts-ethereum-above-10000-by-the-end-of-2022\"> predicted Ethereum would rise above $10 000<\/a> by the end of 2022. He also suggested that the asset would be perceived as a commodity-backed bond.<\/p>\n<p> Follow ForkLog&#8217;s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\"\u201d target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Ethereum could display dynamics independent of other digital assets after the merge, as staking would make the second-largest cryptocurrency resemble bonds or exchange-traded commodities. This is according to Chainalysis in its study.<\/p>\n","protected":false},"author":1,"featured_media":66868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[274,46,1138],"class_list":["post-66867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-chainalysis","tag-ethereum","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66867"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66867\/revisions"}],"predecessor-version":[{"id":66869,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66867\/revisions\/66869"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66868"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}