The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Upcoming Ethereum Upgrade Could Do More Harm Than Good to Crypto Sector Worth Over $140,000,000,000: DappRadar

by Daily Hodl Staff
August 26, 2022
in Altcoins, Ethereum

A new report by decentralized application information platform DappRadar is warning that Ethereum’s (ETH) upcoming Merge could cause harm to one key sector of the crypto industry.

Citing crypto investment giant Grayscale, the report says that stablecoins, which currently enjoy a market cap of $142.82 billion, could be an unintended casualty of Ethereum’s transition to a proof-of-stake mechanism.

“Grayscale expressed concerns over the potential impact on the Merge, especially on tokens that run natively on Ethereum. The crypto investment firm believes that the Merge may lead to a fork that might have unexpected and unfavorable outcomes.

Grayscale’s concern is that the Merge might create a scenario where stablecoins and tokens locked in smart contracts might not be redeemable.

The crypto investment firm also notes that token and stablecoin holders might panic and start liquidating their holdings. Such an outcome would create a substantial amount of sell pressure.”

According to the report, decentralized autonomous organization MakerDAO (MKR) is another party that is pessimistic about the Ethereum Merge.

“MakerDAO (MKR), the builder of the stablecoin DAI, has claimed in a Twitter thread that the merge could do more harm than good.

They explained that the Merge could lead to perpetual contract backwardation and negative funding.

Additionally, MakerDAO mentioned that the launch could trigger selling pressure across chains existing on proof-of-work.”

Backwardation and negative funding refer to a market situation where futures prices are lower than the expected spot prices.

According to the DappRadar report, MakerDAO is also worried that the Ethereum network’s security and performance could be negatively impacted by the upcoming upgrade.

“There’s also the potential of network downtime because not all Ethereum-based protocols would move to PoS with the Ethereum chain. Maker noted that this could affect users and transactions alike. Similarly, a replay attack on DAI-fork or MKR-fork was not left out of the options.”

A replay attack is an exploit on a blockchain where two forked crypto assets are considered valid across chains.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/YanaBu/VECTORY_NT

Submit a Press Release

Industry Announcements

  • FIFA Rivals Launches Worldwide, Bringing Non-Simulation Arcade Football Action to Mobile Devices
    June 12, 2025
  • Polemos Announces TGE and a Game-Changing Strategic Partnership With BUFF Accelerating Web 3.0 Adoption
    June 12, 2025
  • Bitpanda Opens the Gate to Web 3.0 With Vision (VSN)
    June 12, 2025
  • tBTC Launches on Starknet, Expanding Bitcoin’s Role in Multi-Chain DeFi
    June 11, 2025
  • Allnodes Launches Bare-Metal Servers for Solana Validators and Builders
    June 11, 2025
  • Falcon Finance Announces Custody Integration With BitGo for USDf Synthetic Dollar
    June 11, 2025
  • Interactive Strength Inc. (Nasdaq: TRNR) Enters Into $500 Million Facility To Acquire AI-Focused FET Tokens and Launch Crypto Treasury Asset Strategy
    June 11, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$105,172.18
$105,172.18
0.1%
Ethereum
$2,519.80
$2,519.80
0.55%
BNB
$648.95
$648.95
0.27%
Solana
$145.54
$145.54
0.13%
XRP
$2.16
$2.16
0.37%

Spotlight

  • Michael Saylor Doubling Down on Bitcoin Price Prediction As BTC Holds $100,000 Level
    June 8, 2025
  • Capital One Forced to Face Lawsuit Alleging Bank Steals Commissions From Shopping Browser Extension: Report
    June 8, 2025
  • Analyst Unveils New All-Time High Price Target for Bitcoin This Month, Says New Bubble Brewing in Crypto
    June 8, 2025
  • Wells Fargo Customer Loses $61,000 in Fake Virus, Fake Apple Care, Fake Bank Fraud Department Scam: Report
    June 8, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl