- Coin Bureau host has revealed his updated crypto portfolio that puts into perspective the just happened Ethereum Merge upgrade.
- Although the analyst remains confident of a smooth Ethereum upgrade, he has risen his stakes in altcoins that are a hedge against Ethereum.
The just concluded Ethereum Merge upgrade has triggered a wave of optimism for not only its native token ETH but also a number of associated altcoins. Coin Bureau YouTube host and market analyst has in a recent video clip discussed some of the altcoins he is backing to rally post-merge. In addition, the analyst discusses his updated portfolio that ensures he hedges against an unsuccessful Ethereum Merge upgrade.
And we finalized!
Happy merge all. This is a big moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel very proud today.
— vitalik.eth (@VitalikButerin) September 15, 2022
The analyst is clear that a successful upgrade will be monumental for ETH. Two other associated tokens, that is, Lido (LDO) and Lido staked Ether (stETH) are set to follow in ETH’s direction. Polygon will also be a major beneficiary of a smooth transition. With Ethereum expected to complete the full deployment of the Merge in 2023, this layer-2 network will continue to be the leading scaling solution on Ethereum. The expert expects these tokens to rally in the hours and days post the merge.
It is important to note that the analyst created the video prior to the merge. Now, post-merge, the market has witnessed a lag in price movements. Despite the upgrade running smoothly, ETH is in the negative although only marginally. Investors seem to have taken a ‘wait and see’ approach to the upgrade.
Unsurprisingly, some analysts were (and still are) worried that the upgrade will be unsuccessful. As CNF reported a few days ago, BitMEX CEO warned that he does not expect the merge upgrade to happen despite his $3,000 year-end ETH price prediction.
With this in mind, the Coin Bureau analyst has noted that he has adjusted his portfolio to include altcoins that he believes could hedge against Ethereum (ETH). Mainly, increasing his allocation on Solana (SOL). He notes that despite the recent troubles- mostly outages- he is confident of the project’s long-term outlook. Even in the event that the upgrade goes smoothly, the analyst is still confident that SOL will continue on an upward trajectory.
Basically, Solana is a project I believe in despite its recent struggles and I wanted to hedge a bit more against any possible merge issues.
In addition to Solana, the analyst’s portfolio is also made up of Polkadot (DOT) and Cosmos (ATOM) which are also expected to act as hedges.
Furthermore, the analyst says that he always has some dry powder on hand in case he spots a buying opportunity. For this, he keeps USDC (U.S Dollar Coin).