Crypto ETH Loses Up To 20 Percent Value Since Ethereum Merge

In fact, the merge has also shifted network consensus to the preferred proof of stake (PoS) and strengthened the vision to turn ETH into a deflationary coin.

ETH Crypto Prices Weaker

According to the Finbold report, the value of Ether (ETH) continued to decline after the initial stage of the merge failed to live up to expectations, leading to a wave of capital outflows.In the same period, the outflow of capital has been seen from the decline in the price of crypto ETH, dropping from the psychological level of US $ 1,500 and is now struggling in the range of US $ 1,300.

However, the capital outflow has become a fact that, the merge has not made any significant impact for Ethereum, at least in the near future.The action of “buying rumors selling news” is clearly seen in Ethereum coin, which is also still influenced by the cold global sentiment for the crypto market, which has been bearish since November 2021.Apparently, the impact of the update will probably start to be felt in the next few months or years, aka from a long-term perspective.

Recent Inflow of Funds

Regarding the flow of funds on Ethereum-related products, U Today reports that there has been an inflow of funds to the network for the second week in a row.

And in the past week, there have been around US$5.6 million in cash flow, but this only looks good in the short term.

In a broader view, outflows are predominant in Ethereum, which is worth more than US$400 million in year-on-year (yoy) statistics.It seems that the global market which is still hit by inflation and recession fears is still shrinking interest in crypto assets such as Ethereum coins.

Also, Ether is in danger of experiencing legal uncertainty once its network runs on consensus PoS. It could be considered a security coin and could be in trouble with the US SEC just like Ripple's cryptocurrency, XRP.