Ethereum's Merge appears to have been treated as a sell-the-news event, at least in the short term. But is there more to the story?
Ethereum’s Merge appears to have been treated as a sell-the-news event, at least in the short term. But is there more to the story?
Despite the fundamental change in its emission dynamics, the cryptocurrency is down over 20% since the Merge took place in an event that resulted in a “sell the news” type of short-term development in the price.Ethereum abandoned the Proof of Work consensus algorithm for Proof of Stake on September 15th, 2022. This was undoubtedly the most important event in the industry this year., ETH was trading at around $1,600 and even surged to about $1,650 in the hours after it.
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