‘Ultra Sound Money’ — Post-Merge Stats Show Ethereum’s Issuance Rate Plunged ...
Months before Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS), a simulation of The Merge had shown the network’s issuance rate would drop following the ruleset change. Statistics now show that the simulation’s predictions have come to fruition as the network’s issuance rate has slowed significantly since September 15, following the Paris Upgrade that triggered The Merge. Ethereum’s Issuance Rate Sinks Lower Post-Merge Since August 5, 2021, Ethereum has changed from being inflationary to deflationary by introducing the ruleset....
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Ethereum miners have sold over $40 million worth of ETH because of the Merge and plummeting revenue. Ethereum's switch to proof-of-stake (PoS) on Sept. 15 failed to extend Ether's (ETH) upside momentum as ETH miners added sell pressure to the market. On the daily chart, ETH price declined from around $1,650 on Sept. 15 to around $1,350 on Sept. 20, an almost 16% drop. The ETH/USD pair dropped in sync with other top cryptocurrencies, including Bitcoin (BTC), amid worries about higher Federal Reserve rate hikes.ETH/USD daily price chart. Source: TradingViewEthereum remains inflationaryThe....
We’re in a post-merge world, and the lessons keep arriving. As it turns out, the mythical Merge was a sell-the-news event for Ethereum. Technically, the event was a success and Ethereum kept a 100% uptime as optimistically predicted. Economically, the asset has been bleeding for the whole post-merge season. As a result, Ethereum lost ground against bitcoin, and bitcoin dominance is back up. Related Reading: Ethereum Price Is Declining Following The Merge, Vital Trading Levels To Follow Let’s go to Arcane Research’s The Weekly Update for the exact stats and numbers: “Since the merge, Ether....
Shark Tank star, “Mr. Wonderful,” argues that Ethereum is destined to become “ultrasound money” once its chain merge occurs. Canadian entrepreneur, investor, and reality television personality, Kevin O’Leary — also known as “Mr. Wonderful” — appears to now be singing Ethereum’s praises as a deflationary asset.Clearly reading from a script, O’Leary took to Cameo — a website that allows users to purchase personalized video messages from celebrities — to espouse the benefits of Ethereum’s August 5 London upgrades. Most notably, the upgrades saw EIP-1559’s highly awaited burn mechanism....
During the end of 2020 and into 2021, a great number of digital assets have seen significant gains and the bearish season that followed 2017 has turned its course. Bitcoin touched an all-time price high on February 11, 2021, reaching $49k per coin and three-month stats show bitcoin is up 198%. Despite the phenomenal 90-day gains, numerous alternative crypto assets have seen much larger increases. The infamous dogecoin, for instance, has spiked 2,322% during the last three months. Crypto Asset Market Performances in 2021 Bitcoin and the crypto economy has steadily surpassed the $1 trillion....
On this week’s episode of “The Market Report,” Cointelegraph’s resident experts discuss why the crypto market is dumping after the Ethereum Merge and the top headlines in the crypto space. On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss why the crypto market is dumping after the Ethereum Merge and why the bears are winning.To kick things off, we break down the latest news in the markets this week:Biggest Fed rate hike in 40 years? Five things to know in Bitcoin this weekBitcoin (BTC) faces another week of “huge” macro announcements after the lowest weekly....