The stability of the Ethereum price in the first hours after the Merge turned out to be deceptive. A few days later, the cryptocurrency sank sharply against the US dollar, and some analysts believe that the fall will continue. The price of ETH during the transition from Proof-of-Work to Proof-of-Stake slightly exceeded $1600, at the time of this writing it was $1351.
Well
Frontend distribution
Earn $1800 already in two weeks and learn at the right time
REGISTER!
Miners provided a significant part of the interest in Ethereum in the market. Moving away from mining, Ethereum left behind a significant part of its fans. Cryptocurrency was mined by up to 1 million people, using equipment worth about 10 billion dollars.
“They alienated a core demographic and took away the best elements of decentralization? I believe we are seeing a direct impact of this hypothesis on the pullback,” Flux co-founder Daniel Keller.
Vijay Aiyar, vice president of crypto exchange Luno, said that traders are also moving investments from ether and other alternative digital coins back to bitcoin “as bitcoin is expected to be the best investment for several months from now.”
Ethereum switched to Proof-of-Stake – energy savings comparable to shutting down a large country
Further development will show the practical viability of the PoS principle. In accordance with it, holders of 32 or more ETH “freeze” the cryptocurrency on a special wallet – among them, a reward is drawn in accordance with the invested funds.
Globally, Ethereum has continued to fall since November 2021, when it was worth $4,868. The emerging peaks, the largest of which was observed in April 2022, fit into the general trend.
Mining altcoins on video cards also collapsed – the flagships of NVIDIA and AMD give meager profits of $ 0.01-0.06 per day
Sources: CNBC , Venture Daily News
