{"id":499514,"date":"2022-08-22T17:00:43","date_gmt":"2022-08-22T17:00:43","guid":{"rendered":"https:\/\/ktsl888.com\/?p=499514"},"modified":"2022-08-22T13:49:50","modified_gmt":"2022-08-22T13:49:50","slug":"ethereum-slides-to-1500-as-hype-around-merge-dies-down","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-slides-to-1500-as-hype-around-merge-dies-down\/","title":{"rendered":"Ethereum Slides To $1,500 As Hype Around Merge Dies Down"},"content":{"rendered":"

The hype around the Ethereum network had built up following the announcement that the Merge was scheduled to take place on September 15th if everything went according to plan. The price of ETH had seen a massive run-up off the back of the news, seeing it touch above $2,000, albeit briefly. However, as the weeks have passed, the hype around the Merge has begun to die down as people get used to it, causing the price of ETH to slide.<\/p>\n

ETH Slides To $1,500<\/h2>\n

After a tremendous 3-week run, the price of Ethereum seems to have reached a local peak. After reaching $2,000, the downward correction proved brutal, with the market recording double-digit losses. On The part of ETH, it has since lost about $500 off its value, amounting to about a 25% loss for the digital asset.<\/p>\n

Related Reading: Bitcoin Price Declines Below 50-Day MA, Is A Recovery Expected?<\/a><\/strong><\/em><\/div>\n

Since the Merge still remains in view, it continues to be a beacon of hope for investors that the cryptocurrency has not seen the last of its bull rally. Even with the price decline, the asset is still holding firmly above its 50-day moving average, indicating that investors are resistant to the sell-off trend being established by bears.<\/p>\n

The die-down in hype was expected, but that is because the Merge is still about a month away. Investor sentiment is expected to recover as the market ushers in the new month. Furthermore, it is very likely that this will turn into a \u2018buy the rumor, sell the news\u2019 event where investors ramp up buying all the way up to the Merge and dump on completion.<\/p>\n

\"Ethereum<\/p>\n

If this happens to be the case, then the price of ETH is likely to touch $2,000 once more before the Merge. The accelerated buying and staking of ETH ahead of the update will also drag the market upwards with it as it previously did, causing others such as Bitcoin to revisit local highs.<\/p>\n

Ethereum Staking Ramps Up<\/h2>\n

Even though the price of ETH has suffered from the decreased hype, it has not stopped investors from taking advantage of staking on the network. The Ethereum 2.0 contract has been hitting new milestones with staking since the date of the Merge was announced.<\/p>\n

The total ETH staked on the network had quickly surpassed 13.3 million<\/a>, accounting for about 11% of the total supply of ETH in the market. The most recent data shows that the total staked is now sitting at 13,444,552 ETH.<\/p>\n

Related Reading: Investor Sentiment Falls As Crypto Market Sheds $100 Billion<\/a><\/strong><\/em><\/div>\n

This is an exciting figure given where the contract was at the start of the month. In the month of August alone, there have been about 153,000 new ETH staked on the contract. This comes out to about 36,000 ETH being staked weekly.<\/p>\n

One thing that has declined though, is the dollar value of ETH staked on the network. Last week, it had sat closer to $25 billion as Ethereum\u2019s price was on the rise. Currently, the dollar value of the total staked ETH lies at $20.9 billion.<\/p>\n

ETH\u2019s price is currently down 17.35% in the last 7 days. It is trading at a price of $1,574 according to Coinmarketcap, with a total market cap of $190 billion.<\/p>\n

Featured image from CNBC, chart from TradingView.com<\/pre>\n

Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The hype around the Ethereum network had built up following the announcement that the Merge was scheduled to take place on September 15th if everything went according to plan. The price of ETH had seen a massive run-up off the back of the news, seeing it touch above $2,000, albeit briefly. However, as the weeks have passed, the hype around the Merge has begun to die down as people get used to it, causing the price of ETH to slide. ETH Slides To $1,500 After a tremendous 3-week run, the price of Ethereum seems to have reached a local peak. After reaching $2,000, the downward correction proved brutal, with the market recording double-digit losses. On The part of ETH, it has since lost about $500 off its value, amounting to about a 25% loss for the digital asset. Related Reading: Bitcoin Price Declines Below 50-Day MA, Is A Recovery Expected? Since the Merge still remains in view, it continues to be a beacon of hope for investors that the cryptocurrency has not seen the last of its bull rally. Even with the price decline, the asset is still holding firmly above its 50-day moving average, indicating that investors are resistant to the sell-off trend being established by bears. The die-down in hype was expected, but that is because the Merge is still about a month away. Investor sentiment is expected to recover as the market ushers in the new month. Furthermore, it is very likely that this will turn into a \u2018buy the rumor, sell the news\u2019 event where investors ramp up buying all the way up to the Merge and dump on completion. If this happens to be the case, then the price of ETH is likely to touch $2,000 once more before the Merge. The accelerated buying and staking of ETH ahead of the update will also drag the market upwards with it as it previously did, causing others such as Bitcoin to revisit local highs. Ethereum Staking Ramps Up Even though the price of ETH has suffered from the decreased hype, it has not stopped investors from taking advantage of staking on the network. The Ethereum 2.0 contract has been hitting new milestones with staking since the date of the Merge was announced. The total ETH staked on the network had quickly surpassed 13.3 million, accounting for about 11% of the total supply of ETH in the market. The most recent data shows that the total staked is now sitting at 13,444,552 ETH. Related Reading: Investor Sentiment Falls As Crypto Market Sheds $100 Billion This is an exciting figure given where the contract was at the start of the month. In the month of August alone, there have been about 153,000 new ETH staked on the contract. This comes out to about 36,000 ETH being staked weekly. One thing that has declined though, is the dollar value of ETH staked on the network. Last week, it had sat closer to $25 billion as Ethereum\u2019s price was on the rise. Currently, the dollar value of the total staked ETH lies at $20.9 billion. ETH\u2019s price is currently down 17.35% in the last 7 days. It is trading at a price of $1,574 according to Coinmarketcap, with a total market cap of $190 billion. Featured image from CNBC, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":499517,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,16163,1946,6931,85694,8686,78803],"class_list":["post-499514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-price","tag-ethereum","tag-ethereum-price","tag-ethereum-staking","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Slides To $1,500 As Hype Around Merge Dies Down<\/title>\n<meta name=\"description\" content=\"The hype around the Ethereum network had built up following the announcement that the Merge was scheduled to take place on September 15th if 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Slides To $1,500 As Hype Around Merge Dies Down","url":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-slides-to-1500-as-hype-around-merge-dies-down\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-slides-to-1500-as-hype-around-merge-dies-down\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/08\/Ethereum-3-scaled.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/08\/Ethereum-3-scaled.jpeg?fit=2560%2C1707"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth price","ethereum","ethereum price","ethereum staking","ethusd","ethusdt"],"dateCreated":"2022-08-22T17:00:43Z","datePublished":"2022-08-22T17:00:43Z","dateModified":"2022-08-22T17:00:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Slides To $1,500 As Hype Around Merge Dies Down\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-slides-to-1500-as-hype-around-merge-dies-down\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-slides-to-1500-as-hype-around-merge-dies-down\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Ethereum-3-scaled.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Ethereum-3-scaled.jpeg?fit=2560%2C1707\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth price\",\"ethereum\",\"ethereum price\",\"ethereum staking\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2022-08-22T17:00:43Z\",\"datePublished\":\"2022-08-22T17:00:43Z\",\"dateModified\":\"2022-08-22T17:00:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/08\/Ethereum-3-scaled.jpeg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/499514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=499514"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/499514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/499517"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=499514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=499514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=499514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}