2022-9-16 13:45 |
Ethereum price (ETH/USD) has dropped for the second day consecutively despite a successful roll-out of the long-awaited Merge upgrade of the Ethereum Network.
The Merge was successfully completed in the early hours of Thursday, September 15, 2022, and the timing corresponded perfectly with earlier predictions by Ethereum developers.
Despite the current fall in Ethereum price, analysts expect the price of Ether (ETH) to surge in the coming days once investors unwind the hedges that they had bought anticipating hiccups in the rollout. So far, no issues have been reported with the Merge.
According to Jon Charbonneau, a researcher at crypto research firm Delphi Digital, the Merge marks the “biggest event in crypto since the creation of Bitcoin (BTC/USD) and Ethereum. Assuming all remains well, attention will turn toward future Ethereum upgrades.”
To assist investors and traders purchase Ethereum after the merge, Invezz has prepared a brief guide on where to buy Ethereum after the merge.
Continue reading to find out more.
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What is Ethereum?Ethereum was the second blockchain network to be developed after Bitcoin. Its native token Ether (ETH) is the second largest cryptocurrency by market cap.
At their launch, both Bitcoin and Ethereum were designed to use a proof-of-work (PoW) consensus mechanism in confirming transactions within the networks. The PoW mechanism has however proved to consume a lot of energy attracting a lot of criticism from environment conservationists.
As a result, Ethereum embarked on shifting to a proof-of-stake (PoS) mechanism which is less involving, less energy consuming and more efficient compared to the PoW.
Ethereum successfully completed the migration into a PoS system through the Merge Upgrade on Thursday, September 15.
Following the Ethereum Merge upgrade, a new ad campaign was started targeting Bitcoin’s energy us because of its PoW consensus mechanism.
Should I buy ETH today?If you want to invest in one of the largest and most popular cryptocurrencies, then ETH could be a good choice, especially after the successful Merge upgrade.
However, the cryptocurrency market is extremely volatile, and you should invest cautiously.
Ethereum price predictionDespite the price crash after the Merge, analysts are predicting that the Ethereum price will surge in the coming days once investors unwind their hedge positions since there are currently no hiccups recorded following the Merge upgrade.
In a previous article, Invezz had done an analysis of Ethereum price post the merge and indicated why it could disappoint some investors.
$ETH social media trendsSo let me understand this the price of a ETHEREUM transaction will NOT change..😂😂😂😂😂
— DJ Peter Vas (@PeterVas6) September 16, 2022Did the merge not work or why is Ethereum down? I thought we were supposed to be to $10k by now
— greg (@greg16676935420) September 15, 2022The post Ethereum price crushes below $1,500 after the Merge: where to buy the Ethereum dip appeared first on Invezz.
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