- Ethereum Merge is expected on 13 September.
- The highly discussed topic wasn’t successful in creating interest among investors outside the crypto space.
- Both on-chain and off-chain metrics show the downtrend in new investors and the number of investments.
According to the on-chain and off-chain metrics, The Ethereum Merge Event isn’t capturing the attraction of the investors outside the crypto space.
Apart from the hacks and token collapses of the year, the merge is the most discussed topic in the crypto field, per the graph released by IntoTheBlock, a blockchain and cryptocurrency market insight company. The highest percentage of tweets shared happened in February and March.
However, the data revealed that the increased number of Twitter posts wasn’t a reminder of the event’s celebration beyond the crypto world. Earlier this year, the positive sentiment was comparatively lower than the tweets from sentiment-neutral tweets.
Moreover, it has been identified that there was a slow downtrend in the search metrics for Ethereum, which was enough to recognize the decrease in the investors’ enthusiasm for Ethereum. Also, the on-chain social metrics pointed out that the merge event wouldn’t be able to bring a hike in the already diminished interest for Ethereum.
Based on the on-chain metrics, there has been a downtrend in the newcomers entering the Ethereum market since May. Also, the transactions that took place in May were fewer. The unavailability of new investors and the lowering of transactions proved the weaker growth of Ethereum.
Looking at the data, the Ethereum Merge does not seem to be a driving force to instill enthusiasm in investors outside the crypto environment. The merge is unknown and thus foreign to the public who are out of the box.