At the same time, Hayes is convinced that hedgers will have to cover their shorts, becoming net long again if Ethereum’s transition to proof-of-stake ends up being successful Speculators will also likely buy into the “triple halving”
narrative. Market makers will have to reverse their positions by going long spot and shorting Ethereum futures. , Ethereum developers recently confirmed that the merge is now on track the merge upgrade is going to take place on Sept. 15.
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