Ethereum Price Stalls While Bitcoin Dips Below $20,000 Post Merge

Finally, the Ethereum Merge long-awaited Merge has occurred. As the most hyped historic event in the crypto space, many people projected different sentiments about the upgrade. Parts of the pre-merge reactions were negative. With the official conclusion of the Paris upgrade, popularly known as the Merge, the Ethereum network transited from PoW to PoS. This marked the consolidation of the two separate layers, the execution layer (PoW chain) and consensus layer (Beacon Chain). Related Reading: Ethereum Merge Fails To Move ETH Price, $2,000 Remains Elusive No Immediate Volatility With The Ethereum Merge While many people in the crypto industry had expected the Ethereum transition to create volatility, the outcome is different. The upgrade has not distorted the price of the Ethereum coin. All the Ether community was hoping that ETH merge would bolster Ethereum growth; rather, it has fallen below. It’s pretty unclear if Ethereum could sustain its value in the post-merge period as the price of ETH gradually drops. At the time of press, Ether is trading at $1,428, depicting about a 3% decrease within the past 24 hours. The performance of Ethereum Classic after a few hours of Merge also tanked. ETC went north and even reached the $40 mark. But the token has started dropping through the trading hours today. At the press time, ETC is hovering around $33.19, dipping by 9.39% over the past 24 hours. Other altcoins were seen to be gr...