Ethereum-Anhänger und -Konkurrenten haben dem Ethereum-Team auf unterschiedliche Weise zum erfolgreichen Merge gratuliert.
Bitcoin (BTC) fällt unter 20.000 US-Dollar: ETH fällt nach Ethereum Merge um 8 Prozent
Der Bitcoin-Kurs entwickelt sich nach wie vor In eine ungewisse Richtung, während Ethereum trotz des erfolgreichen Merge nach unten tendiert.
Why has Ethereum fallen post-Merge? ETH slides 8%
Buy the rumour, sell the news.
The Ethereum Merge was completed without a hitch, but prices in the immediate aftermath have disappointed investors. I dive in quickly here to take a temperature check on all things on-chain.
Funding rate turns positive
In the run-up to the Merge, funding rates on Ethereum hit all-time lows. This caused headlines but was to be expected. With holders of Ethereum receiving an ETH PoW token, it meant investors moved to long spot ETH and short futures in order to receive the token while removing price exposure.
Given this was an apparent arbitrage opportunity, the laws of simple market dynamics dictate that the funding rate has to come down to reflect the outsized number of investors shorting ETH futures into the Merge in order to long spot and receive the ETH PoW token.
Post-Merge, the all-time low funding rates have now reverted to normal levels – and even turned slightly positive. So, nothing to see here and normal service resumed.
Why did Ethereum fall post-Merge?
As I ate my breakfast Wednesday morning (toast and a croissant with honey), Ethereum completed its Merge – at block 15,337,393, to be precise.
The price of ETH traded at around $1,598 and jumped slightly to $1,620, a rise of 1.4%. However, it then pulled back and as I write this over my breakfast on Friday morning (this time oats and blueberries) ETH is trading at $1,470, 8% below the level of the Merge.
And so, the Merge turned out to be a classic sell-the-news event. Given Bitcoin is only trading 2% below the level it was at as the Merge completed, there does seem to be some underperformance from ETH.
Options also give a hint at the bearish sentiment. There was a volatility smile with a bearish divergence visible in the run-up to the ETH. This means that when the strike price was plotted against implied volatility, there was greater implied volatility (of over 100%) at lower strike prices – showing traders were betting on a sell-the-news scenario.
Looking at options open interest by strike price, there were also more puts than calls – meaning traders were betting on the price falling rather than rising.
Federal Reserve will ultimately dictate price
Of course, all this will be overshadowed by the key Federal Reserve meeting being held on September 20th and 21st, when the Fed is expected to announce another substantial rate hike following the disappointing inflation reading this week.
Nonetheless, it hammers home the point that simply because there is a large event in the pipeline does not mean the price will rise. It’s an absolutely classic example of a buy-the-rumour, sell-the-news event, one we see in the stock market all the time.
Having said that, in terms of Ethereum’s long-term future, the Merge is now in the past and it went by smoothly. It’s a huge achievement and very bullish for Ethereum overall. Jerome Powell and the economy just need to cooperate now!
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FTX und Bybit bieten Spothandel für ETHW an
Bybit hat offiziell angekündigt, den Handel mit ETHW anbieten zu wollen. Bald sollen ETHW-Einzahlungen und -Abhebungen möglich sein.
ETH price falls after the Merge: here’s where to buy Ethereum
The long-awaited Merge upgrade of the Ethereum Network was successfully completed in the early hours of Thursday, September 15, 2022. The timing corresponded with earlier predictions by Ethereum developers depending on the Ethereum hashrate.
The Merge upgrade creates a more energy-efficient blockchain network since Ethereum has since shifted from being a proof-of-work (PoW) blockchain network to a proof-of-stake (PoS) network. However, the price of Ether (ETH) fell sharply after the Merge and in the early hours of Friday, it was trading at $1,474.20, down about 7.93% from Thursday’s price level.
Nevertheless, analysts expect the price to surge in the coming days once investors unwind hedges that they had bought anticipating hiccups in the rollout. So far, no issues have been reported with the Merge; something that is likely to trigger confidence among investors and possibly drive the prices higher.
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 and Ethereum. Assuming all remains well, attention will turn toward future Ethereum upgrades.”
To assist investors and traders purchase the Ethereum token after the merge, Coinjournal has prepared this brief guide on the best places to buy Ethereum.
Continue reading to find out more.
Where to buy Ethereum (ETH)
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What is Ethereum?
Ethereum was the second blockchain network to be developed after Bitcoin, which was the first blockchain to be developed. Its native token/cryptocurrency Ether (ETH) is the second largest cryptocurrency by market cap.
At their launch, both Bitcoin and Ethereum were designed to use a PoW consensus mechanism in confirming transactions within the networks.
However, the PoW mechanism has proved to consume a lot of energy impacting negatively on the environment. Ethereum has embarked on shifting to a PoS mechanism that is less involving, less energy-consuming, and more efficient than the PoW.
Ethereum successfully completed the migration into a PoS system through the Merge Upgrade on Thursday, September 15.
Following Ethereum’s merge, a new ad campaign is underway targeting Bitcoin’s energy use because of its proof-of-work (PoW) consensus mechanism.
Should I buy ETH today?
Suppose you want to invest in a popular cryptocurrency that is expected to considerably rise in the coming days. In that case, 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 coin price prediction
Despite the price fall after the Merge, analysts expect the price of Ethereum to surge possibly above $2K in the coming days once investors unwind their hedge positions since there are currently no hiccups recorded following the Merge upgrade.
$ETH social media trends
„The merge will reduce worldwide electricity consumption by 0.2%“ – @drakefjustin
— vitalik.eth (@VitalikButerin) September 15, 2022
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