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.