ETH Drops After Merge

Despite multiple positive narratives emerging from the Ethereum transition to proof-of-stake, initial price action has been negative.

ETH is now trading at $1,497 according to CoinGecko, a decrease of six percent in the last 24 hours and 4.5 percent in the last hour.

Nevertheless, the fundamentals of the Ethereum blockchain remain forever changed. Since the Merge, ETH has been net-deflationary, according to ultrasound.money, burning more than 160 ETH than produced during that time.

Additionally, all systems are a go on NFT trading platforms LooksRare and OpenSea. At this time, Lucky Trader has not received any reports of NFT trading issues since the Merge was completed.

For more information on the Merge's impact on your NFTs, read Jason Bales' column.

Author Bio

Logan Hitchcock

NFT Analyst

Logan is a content lead at Lucky Trader and is best known for selling every good NFT far too early. He also maintains an irrational exuberance for clay-based NFTs.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.