Today's financial reality
The U.S is in a recession. With the numbers showing two consecutive quarters of negative growth the U.S recession is official now!
What this would be for the rest of the countries?
Due to the current pandemic which is still very much on and the war in Ukraine practically every country of the world is affected.
So even if you are not in USA the ripples of the economic conditions would be felt.
One can look at the condition in USA as a financial dipstick for the rest of the financial system globally.
The condition in Europe is no better
With Germany the strongest economy in Europe feeling the heat on account of its draining fuel stock and economy bearing the brunt of the war.
Plus the UK bracing with inflation that is at a multiple year high there is little place to put your money to make it grow better than fiat.
At the end of the day one needs a hedge to survive the rising prices.
Having said that there are few asset classes that are promising to look at or invest in.
ETH 2,0 event offers green shoots of economic hope
With ETH 2.0 the ethereum blockchain moves from proof of work to proof of stake.
One positive effect would be the lowering of the ETH gas fee.
This could possibly help people buy and hodl eth.
Better still they may want to stake it and earn more ETH
This could help the crypto markets get back into the green.
Also the blockchain projects built around ETH would get more viable to trade and invest in.
The ticket size of Defi investment gets smaller.
Pool staking of small funds which was nonviable due to the high ETH gas fee becomes viable once again.
This implies that one could do multiple pool operations and trades without losing too much gas fee and it would also ETH based Defi investments in the reach of a lot many more individual s and wallet holders.
People keep speculating about ETH price
ETH 2.0 is being seen as a positive event for ETH holders and specially since it is scheduled to be on time.
Hopefully it gets done without any snags and delays.
Europe is looking towards crypto for better returns
Why just Europe people from around the world need better financial returns to survive the hardships of the fiat word.
Hopefully the arrival of ETH 2.0 would trigger the opening of better crypto pricing and better opportunities to grow and earn for one and all.
Could the ETH 2.0 event take it to the moon ?
Though the event is seen largely as positive by the crypto pundits it remains to be seen how well it plays out.