Ethereum Price Trends Sideways Ahead Of The Merge

The Ethereum community and the entire crypto space will soon witness the Merge launch, the long-awaited upgrade. It’s a transition for the Ethereum mainnet from PoW to PoS consensus mechanism. It has become one of the most hyped events in the industry as many people are presenting different opinions about it. Over the past few weeks, sentiment on the Merge boosted the price of Ether. Despite some slight downward moves in the broader crypto market, ETH remained one of the tokens with a more impressive performance. Related Reading: Bitcoin Profitability Jumps As Price Adds $1,500 In 24 Hours The sudden decline in the price of Ethereum is creating many concerns for many participants. Several people are confused about the twist in the movement of Ether since the Merge is at hand. Furthermore, other preparatory activities and upgrades that will usher in the Merge are almost completed. Hence, investors are expecting to get more increase in the price of ETH. Effect Of Bellatrix Upgrade on Ethereum Network The ETH network witnessed the Bellatrix upgrade recently. The upgrade is meant to enable Ethereum validators to create Beacon blocks. One of the completed blocks will contain the code for the Merge. The Bellatrix upgrade serves as one of the upgrades that initiate the Merge. A report on the process indicated that Ethereum witnessed a drop in its network participation rate after the Bellatrix upgrade. Also, there was a spike in...