Ethereum's Merge Won't Stop its Price from Crashing
0Iakov Levin wrote in CoinTelegraph "Ethereum's Merge won't stop its price from sinking". He discusses how The long-awaited Merge of Ethereum occurred in September, transitioning it from a traditional proof-of-work architecture to the more sustainable P o S consensus mechanism. Many analysts expected Ethereum price to rise since its daily emissions fell by 90% once mining operations were halted. However, Ethereum has dropped by more than 7% after the update. Technically, the Merge mechanism and the present state of deflation are intended to force prices upward, but the timing is just not right. This is essentially why, despite its deflationary character, the price of Ethereum has decreased rather than gained. There is also increased regulatory pressure on the crypto market, and with the recession raging, short-term investors are avoiding risky assets. According to Coinglass statistics, Ethereum liquidations have increased.
Source: https://cointelegraph.com/news/ethereum-s-merge-won-t-stop-its-price-from-sinking-without-more-users
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