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Ethereum [ETH]’s latest mixtape may leave investors scratching their heads

Ethereum [ETH]'s latest mixtape may leave investors scratching their heads

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Ethereum [ETH], after the merger, faced huge selling pressure that came as an aftermath of the event. However, could the drop in ETH price open up an opportunity for investors to buy Alt at a discount?

Will ETH bring back interest?

Regardless of what happens after the Merger, the reduction in token issuance may cause a spike in Ethereum prices. This may depend on the demand for the token: whether it will increase or decrease in the future.

Source: Messari

Also, despite the volatility it has seen, ETH still makes up a huge part of the crypto space. More than half of the DeFI ecosystem The altcoin still running on Ethereum has a long way to go.

One of Ethereum’s positive indicators was the income generated through online payments. At press time, this figure was on par 4.8 billion dollars. So, Ethereum managed to beat its other competitors by a huge margin.

Source: Twitter

But that’s not all. Exchange reserves have seen a bill too. The decrease in foreign exchange reserves showed that selling pressures were low.

Discount deal

Ethereum’s price move in recent days may have been a discounted deal for some. More specifically, the whales seemed interested in ETH last weeks.

There has also been a spike in development activity in recent weeks. This meant that the Ethereum team was constantly working to improve Ethereum technology.

Source: Santiment

While all these factors point to a positive future for the altcoin, Ethereum’s short-term future appeared to be bearish.

Proceed with caution

The ratio of market value to realized value (MVRV) was decreasing during the last month. This indicated a very negative future for ETH prices. The market value of Ethereum also decreased somewhat along with the speed of Ethereum.

ETH speed has also dropped massively in the last couple of days. This means that the number of ETH address exchanges also dropped drastically.

Source: Santiment

At press time, Ethereum was trading at $1,281.16, down 6.66% in the last 24 hours.



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