Friday, December 9, 2022
HomeETHCoinGecko founder discusses right approach to use for impending ETH Merge

CoinGecko founder discusses right approach to use for impending ETH Merge

Many people believe that when Ethereum moves to proof-of-stake (PoS), a faction of Ether (ETH) miners will fork the network back to proof-of-work (PoW) so that they may continue mining. According to an executive, there are ways for ETH holders to benefit from this future event.

In a thread on Twitter, Bobby Ong, who is also the co-founder of the website CoinGecko and provides information on tokens, discussed the techniques he plans to use for the impending ETH Merge. Ong has revealed that ETH investors will soon be eligible to receive airdrops of ETH PoW tokens, and he has also provided some advice on how ETH holders may make the most of this opportunity.

Ong made the observation that holding ETH at exchanges that support the forks is the simplest method to get the fork’s associated airdrops. On the other hand, one could also keep their ETH in a hardware wallet, which might make them eligible for all of the forked tokens.

The executive also gave the recommendation to the traders that they should bridge their tokens back to the ETH mainnet, unwrap their Wrapped Ether (wETH), and withdraw their ETH liquidity from any decentralised finance (DeFi) protocols in order to collect the maximum amount possible for the token holders.

Ong noted that despite these tips, even though he might be eligible to get all of the forked tokens, he would not claim all of the airdrops because some of them might be scam attempts that would try to get access to his signature and keys. Ong said that he would not claim all of the airdrops because some of them might be scam attempts. The CEO further said that his plan for the forked tokens is to “sell them all quickly” as part of his approach.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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