3 cryptocurrencies that stand to outperform ETH price thanks to Ethereum's Merge
After years of waiting, Ethereum is finally prepared to become a full-fledged proof-of-stake (PoS) blockchain. Besides Ethereum's native token Ether (ETH), the valuation of several other tokens have not only benefited greatly, but could also keep outperforming ETH after the Merge.
The leading smart contract platform completed the last of its three public testnets dubbed "Goerli," on Aug. 11. Therefore, there should be no delays in Ethereum's "Merge," expected to go live on Sep. 19.
Ether price jumped 5% to approximately $1,950, its highest level in over two months, after the Goerli update. Meanwhile, certain crypto assets that could benefit from a successful Merge are undergoing upside moves, and have even been outperforming ETH in the past month.
Will these tokens continue to outperform ETH price into September? Let's take a closer look.
The Merge will replace Ethereum's army of miners with validators, who will be required to front 32 ETH as an economic stake.
This major staking requirement has opened up opportunities for middlemen, i.e., platforms that collect Ether from underfunded stakers and put the proceeds together to become validator on the Ethereum blockchain. Lido DAO is one among them.
Related: Is it foolish to expect a massive Ethereum price surge pre- and post-Merge?
Lido DAO is the leading staking service in terms of value locked inside Merge's official smart contract. Notably, it has poured 4.15 million ETH into the so-called ETH 2.0 contract, leading Coinbase, which has staked approx. 1.55 million ETH on behalf of its clients.
A successful Merge could boost the demand for Lido DAO services.
In turn, it could prove bullish for the platform's official governance token, LDO, whose value had already soared by more
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