Lack of catalyst drags Ether down as ‘Merge’ excitement ends – The National
- Date: 16-Sep-2022
- Source: The National
- Sector:Financial Markets
- Country:UAE
Lack of catalyst drags Ether down as ‘Merge’ excitement ends – The National
Ether led digital assets lower after a groundbreaking software upgrade of the token’s underlying network turned into what some market observers labelled a “sell-the-news” event.
The second-largest token dropped by about 8 per cent on Friday to trade around $1,478 at 9.20am UAE time, according to Coinbase data. It slid more than 6 per cent on Thursday.
Ether has fallen in value since mid-June after a rally caused in part by optimism about the Ethereum blockchain update, known as the Merge, to slash the network’s energy use.
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