Arthur Hayes:If the Merger Goes Through, ETH Spot Prices will Rise

Aug 12,2022
KingData News: BitMEX co-founder Arthur Hayes tweeted that the ETH futures term structure is currently at a spot premium, meaning that the futures price is less than the spot price, until January 2023. The speculation is that traders are hedging their ETH exposure ahead of the merger as a precaution. If the merger is successful, the hedgers will cover their positions, so they are net long ETH again. Now the pressure is on the buy side, and market makers are short futures and must go long spot. A reversal of their positioning pre-merge. This is a positive feedback loop that leads to higher spot prices should the merge go smoothly on Sept 15th.
This indicator broadcasts the latest progress of ETH 2.0 and the data changes of ETH 2.0 pledge amount in time.
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