Rumors of a merger between ConsenSys and JPMorgan
Rumors are growing that indicate the possible merger of the blockchain team of the largest bank in the United States, JPMorgan, with the blockchain software services company ConsenSys.
The fundamentals of Ethereum
There are some anonymous sources that suggest that the blockchain software technology company founded by Joseph Lubin, ConsenSys, will merge with the internal blockchain unit of JPMorgan Chase, the largest bank in the United States. Some analysts agree that this news is what is supporting the new bull rally that Ethereum is experiencing because ConsenSys works especially on its blockchain network. So far this day, Ethereum already has an upward movement of approximately 13%, occupying the seventh place of the cryptocurrencies with the highest earnings of the day.
Ethereum is at a very good price for those who intend to keep the investment in the longer term, with a target close to USD 800 that would leave an approximate return of 200%. If the news of the merger between ConsenSys and JPMorgan becomes concrete, it could have a very important effect on Ethereum's price. The maximum historical price of Ethereum at USD 1,400 in 2017 was driven almost exclusively by the ICO phenomenon, which today has changed a lot.
However, the momentum of Ethereum's price is currently backed by fundamentals in the development of Ethereum itself. Most decentralized applications use the Ethereum blockchain for operation. Such is the case of JPMorgan's private blockchain, Quorum, which aims to function as an interbank payment network that would involve more than 300 banks. Ethereum's future looks promising and many analysts are already considering it as one of the cryptocurrencies with the greatest potential for the coming years.