Ethereum price

The price of ether fell on Thursday after the Ethereum network completed its migration to the proof-of-stake consensus mechanism.

"On the other side, asset managers and holders are actually positioning themselves ahead of a longer-term game," he added. Some analysts have said they expect to see that trade unwind after the merge. Still, the market remains largely macro-driven. It seems likely, then, that if the Merge turns out to have a positive effect on Ethereum's price action, the upside may not be sustainable." Traders had expected to see a decline in the price following the transition late Wednesday night. In August it fell almost 9.3%, compared to bitcoin's almost 17% loss.

The price stability that prevailed after Ethereum's shift to a more energy-efficient "proof-of-stake" network suddenly evaporated as ether slid 9.1%, ...

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). In the weeks before the Merge, bitcoin and ether appeared to be traveling on separate trajectories. [strict set of editorial policies](/ethics/). In total, 12%, or 305, nodes appeared to be recalcitrant, with the transition with the majority from the Geth network. “We expect this volatility for at least the next 24 hours.” Investors should definitely be cautious, as always, and expect volatility in price and narrative," he added. “I think that you wouldn’t have to throw many rocks to find a fund that has a healthy nine-figure position on the merge, long spot short derivatives or something like that," said Abraham Chaibi, co-founder of Dexterity Capital. “ETH peaked at $2,000 one month ago and has seen a sharp drop today once the Merge was deemed successful. [blockchain data](https://twitter.com/ASvanevik/status/1570268736229199872) showing that investors were sending ETH to crypto exchanges in droves – often taken as a sign that holders are getting ready to dump. The [CoinDesk Market Index](https://www.coindesk.com/indices/cmi/) was down about 4%. “We’ve also seen market depth decrease and spreads increase, so that will likely factor into larger price movements.” [quoted on the "Bankless" podcast as saying](https://www.benzinga.com/markets/cryptocurrency/22/07/28238848/vitalik-buterin-the-merge-isnt-priced-in-yet) the Merge was “not going to be priced in pretty much until after it happens.” [According to EtherNodes](https://www.ethernodes.org/merge), 88% of ether nodes were Merge-ready and synced in the moments leading up to the event.

Ether prices dropped today after the so-called merge, the Ethereum network's switch to proof-of-stake, finally completed. Several market observers weighed ...

“Looking at the last low point (June 2022), Ethereum faced another ~12% drop to mid $800s. Recently, the U.S. If this level breaks, a retest of the previous lows could be in store,” he predicted. [Betterment](https://www.betterment.com/), [emphasized](https://www.forbes.com/sites/cbovaird/2022/08/22/is-bitcoins-short-term-outlook-bearish-after-last-weeks-decline/?sh=77b41b4847ec) recently. [Relative Strength Index](https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/RSI), a tool that technical analysts can use to measure the extent to which an asset is either oversold or undersold. [Federal Reserve policy meeting](https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm), scheduled to take place on September 20 and 21, where the Federal Open Market Committee is expected to announce another substantial increase in the central bank’s benchmark rate. [Digital Capital Management](https://www.digital-capital-management.com/), described the price movement that took place following the merge as an “absolute, textbook example of “buy on the rumor, sell on the news.’” [TrendSpider](https://trendspider.com/), offered a more specific take on the matter. [five key phases](https://twitter.com/milesdeutscher/status/1550315295402668032?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1550315295402668032%7Ctwgr%5Ee72546e032a359c7cbf34db32778b2d3409161bc%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.coindesk.com%2Ftech%2F2022%2F08%2F01%2Fethereum-after-the-merge-what-comes-next%2F) that the network is expected to undergo in the near future. [make it possible](https://www.coindesk.com/tech/2022/08/01/ethereum-after-the-merge-what-comes-next/) for Ethereum to harness [sharding](https://ethereum.org/en/upgrades/sharding/), which would divide the network into smaller pieces in an effort to improve its bandwidth for processing transactions. [stated](https://www.coindesk.com/tech/2022/09/15/the-ethereum-merge-is-done-did-it-work/) that the change will enhance the network’s security and clear the way for improvements in scalability. [describing this milestone](https://www.forbes.com/sites/cbovaird/2022/09/06/ether-prices-rally-as-bellatrix-upgrade-moves-ethereum-one-step-closer-to-the-merge/?sh=3b80587b6cca) as “probably the biggest change to a blockchain since Bitcoin launched in 2009.”