3 reasons that make Ethereum (ETH) one of the best cryptocurrencies by 2023

The “merge” is coming

After years of debate, planning and delays, the ” merge » long-awaited will come in 2022. The merge or merger refers to the move from proof-of-work (PoW) to proof-of-stake (PoS) consensus. This will reduce network energy costs by 99% and, most importantly, improve network scalability.

This will not only speed up transactions, but also make Ethereum more competitive against other similar blockchains that support smart contracts.

The metaverse grows

According to a recent Metaverse Market report, the industry is expected to grow at an average annual rate of 33.26%. We have seen an increase in demand for augmented reality and virtual reality technologies. Since many of the best metaverse apps like Decentraland and The Sandbox are built on Ethereum, it would mean more investment on the network.

Ethereum remains at the top of DeFi

Of the more than 200 billion dollars of TVL according to DeFi LlamaEthereum has the most investments through protocols such as MakerDAO. This sector too has been growing rapidly and grew by 47% in 2021, so this translates to growth in the Ethereum network.

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