Many reactions and sentiments have been hovering around the Ethereum upcoming upgrade tagged the Merge. Different presentations of opinions crowd the crypto space on an individual and institutional basis. One of the significant displays was the mass accumulation of Ethereum tokens. Many believed that the price of Ether would rise due to the Merge. The Ethereum network had witnessed higher activity as participants purchased more ETH in the past few weeks. Hence, the month of July was rising one for the cryptocurrency. As a result, the price of Ethereum rallied considerably even as the broader crypto market was doing a progressive climb. As a result, Ethereum has become one of the top gainers as of the beginning of July. Related Reading: Flippening Forewarning? Ether Options Overtake Bitcoin As The Top Crypto To Trade But the sudden uptrend seems to be short-lived. Just as the crypto market is experiencing the exit of the bulls, Ether is not left behind. The past few days have been a struggle for the Ethereum token. The ETH’s price trend data indicate a down-move for the past four days. Currently, the market cap for the world’s second-largest cryptocurrency sits at $225 billion. ETH is trading at around $1,700, with a major loss in the past 24 hours. Recall that the token increased its value by about 100% at the beginning of July. But from the beginning of this week, Ethereum has been shading off value with its price...
