6:31:16 PM PDT - Sunday, October 2nd, 2022

Ethereum drops more than 17% after ‘way over-hyped’ Merge  

By Editor - Mon Sep 19, 11:50 am

Four days ago, just a few minutes before 3 am ET, a long-anticipated upgrade to Ethereum was executed. Since then, the second most valuable blockchain’s cryptocurrency, ETH, has tumbled — and some are saying its price hasn’t bottomed out yet. When the upgrade, generally referred to as “the Merge,” transpired, ETH was priced at about $1,600. At the time of publication, ETH is worth about $1,327 down just over 17% from the landmark system change. “The FOMO and speculation around the Merge are done, and it’s back to business as usual for most in the space.” Flux co-founder Daniel Keller Over the past several months, speculation has centered around whether ETH would be accepted post-Merge , Daniel Keller, co-founder of a decentralized cloud infrastructure Flux, said to TechCrunch. Since Ethereum moved from proof-of-work (PoW) to proof-of-stake (PoS), it left its crypto miners “behind” in the transition, he added

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Ethereum drops more than 17% after ‘way over-hyped’ Merge

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