Despite Ether's merge being one of the most iconic events in Web-3 in recent times, many investors have been left sharply dissatisfied. And now we'll look into why that was the case.
According to CoinMarketCap, right after the merge, the price of ETH rose to a high of $1634 and then steadily declined. At the time of this writing, the cost of ETH is $1,289.27, down 21% since the day of the merger.
Looking at data provided by the Coinglass tracker, $128.80 million worth of ETH coins were withdrawn from the market between September 16 and 17.
Key indicators on the daily chart indicated significant selling activity of the leading altcoin at the time of publication. According to the idea, ETH holders could see a further decline in the price of the altcoin in the coming days.
But remember, always DYOR what you hear from anyone.