- So far, the impact of the Merge has not been what people expected it to be.
- ETH is currently trading at $1,463.28 after a more than 8% drop in price.
- The total market cap is in a similar situation to ETH.
Now that the Ethereum (ETH) Merge has been successfully implemented, one big question remains: is it time to buy or sell?
According to reports about the Merge, everything went smoothly, and there were no difficulties reported, which means that adoption can only go forward, but what does this mean for ETH? So far, the impact of the Merge has not been as significant as people expected it to be, as there might be some mistrust in the update after all the delays the project experienced.
This could mean that the market is in an accumulation period now, after which the Merge effects will become more evident.
According to the market tracking website, CoinMarketCap, ETH is currently trading at $1,463.28 after a more than 8% drop in price over the last 24 hours. ETH is also currently down 13.72% during the previous seven days.
In addition, ETH’s 24-hour trading volume is also down more than 20% to now stand at $19,616,029,356.
Observing ETH’s price chart, not much has changed, as it seems like the crypto is waiting for the markets to decide.
The total market cap is in a similar situation to ETH, where it is in a time of accumulation, and not much change can be seen. This could suggest that the market cap is ready to trend upwards in the coming week to make higher lows.
If this is the case, it could be a green week for the total market cap with a target of $1.6 trillion.
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