Daily Digest - 16th September 2022

Headlines

▌ Ethereum Is Expected to Be Vigorously Adopted by Institutions After Merger

Bernstein said in a research note that the new economic model under the Ethereum merger, combined with token burning, could lead to a deflationary situation during periods of high demand. The merger of Ethereum could lead to strong institutional adoption. Given its economic transformation, scalability roadmap, and its vibrant digital economy, blockchain will “become the leader in the digital asset class,” Bernstein said. He expects Ethereum (ETH) to be widely adopted by institutions due to its leading market share, market cap, and liquidity.

Cryptocurrency

▌Main Country Officials in the Euro Area: The Digital Euro Must Be Private and Environmentally Friendly

The digital euro should protect people’s privacy, be environmentally friendly, and could be subject to holding caps, according to a document written by officials from major eurozone countries. The document said the digital euro should not replace cash and should complement private sector means of payment, such as digital currencies issued by commercial banks. "The digital euro needs to take into account financial privacy. In general, the identities of payers and recipients must not be disclosed to central banks or third-party intermediaries not involved in the transaction, except in accordance with EU law," the document added. Officials appear to agree with ECB executive board member Fabio Panetta’s suggestion that people could be restricted from holding CBDC through lower interest rates or a hard cap to stop money from flowing out of the traditional banking system.

▌Hours Into The ETH Merge, Graphics Card Prices Hit Their Lowest Ever

With the successful completion of Ethereum’s Merge, the demand for GPU mining machines is no doubt shrinking, and a large part of the mining market will no longer pay attention to GPUs. At present, the price of some GPUs has fallen sharply. NVIDIA GeForce RTX 3090 Ti for the first time selling below $1000 US. The RTX 3090 Non-Ti already hit below $1000 US prices a few weeks back but it's 3090 Ti's time to drop below one grand. They might be even higher price drops once the next-gen launches.

▌Poloniex Announced the Renaming of Ethereum Fork Token ETHW as EthereumFair (ETF)

Based on the market situation, consensus of users and the community, Poloniex has decided to choose the fork chain EthereumFair (ETF) which is supported by the community's majority and more PoW computing power as the main chain for ETHW tokens. Poloniex will also support other forked chains and forked tokens as appropriate.