Multiple Factors Behind Ethereum (ETH) Dumping Prior to Merge
Balita ng mga Editor Whales are unloading their ETH reserves because of the anticipated deflationary trend. The expiration of $2 billion in options on September 30 is also a big concern. The EIP-1559 burning mechanism will cause a deflationary trend in the price of Ethereum (ETH) following the Merge. However, ETH continues to fall below $1500 even before the Merge. The pressure is coming from the expiration of about $2 billion in options on September 30 as well as from the selling of ETH by “whales,” or large investors, Feds at nagpipilit aggressive approach. ETH/USDT: Pinagmulan: TradingView After the Merge, Ethereum is expected to become a deflationary cryptocurrency since the supply of ETH would be cut by 90%. OKLink, an on-chain platform, reports that since the EIP-1559 went live in August 2021, more than 2.6 million ETH had been burnt. There has been about $8.5 billion worth of ETH burned thus far. With EIP-1559 in place, Ethereums yearly inflation rate has dropped by 50.77 percent. Investors Forced to Liquidate As a result of the anticipated deflationary trend in Ethereum post-Merge, whales are unloading their ETH reserves. Ethereum (ETH) supply owned by exchanges has surged in August, while non-exchange whales seem to be dumping their holdings. What this