Why Ethereum Price Is Unlikely To Dump After “The Merge”

The Ethereum price is rallying above critical levels as “The Merge” is on the horizon, the bullish momentum might receive a fresh push and finally take ETH north of $2,000. In the meantime, market participants are speculating about the immediate future of the second cryptocurrency by market cap. Related Reading: Cardano On White House Crosshair Can Push ADA Up This Route At the time of writing, Ethereum’s price trades at $1,710 with a 4% loss in the last 24 hours and a 9% profit over the last week. After weeks of leading the market, ETH is underperforming Bitcoin. The number one cryptocurrency records an 11% increase in 7 days. For a deeper dive into the Bitcoin price and its potential bullish signals, check out our video below where our Editorial Director Tony Spilotro makes the case for the formation of a bottom with massive potential for appreciation, similar to 2020. Who Is Most Likely To Sell After “The Merge”? The market is seemingly divided on “The Merge”, the event that will complete the ETH transition to a Proof-of-Stake (PoS) consensus. Some expect the Ethereum price will operate under a “buy the rumor, sell the news event”, other are betting on a bullish continuation. In a recent report from on-chain analytics firm Nansen, looking into the top ETH stakers ahead of “The Merge”, the staking dynamics, and its impact to affect the Ethereum price, there is a forecast about a potential negative impact on the cryptoc...