Ethereum miners dump 30K ETH, stonewalling ‘ultra sound money’ deflation narrative
Ethereum miners have sold over $40 million worth of ETH because of the Merge and plummeting revenue.
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Ethereum miners have sold over $40 million worth of ETH because of the Merge and plummeting revenue.
On-chain and technical indicators also hint at more pain for Bitcoin and Ethereum for the remainder of 2022.
A classic bearish reversal pattern suggests pain ahead for the ETH/BTC pair despite Ethereum's milestone Merge event.
Nonetheless, ETHPoW is gaining adoption among top mining pools and crypto exchanges.
Ethereum traders are betting on a "sell-the-news" event on the day of the Merge as ETH exchange balance jumps.
Ether could enter the pattern's breakout stage in the days leading up to the highly-anticipated Merge.
Options data, macroeconomic catalysts and technical signals suggest a decline in Ethereum price is on the table despite the Merge.
Ether is forming classic bullish patterns against the greenback and its top crypto rival on shorter-timeframe charts.
It's not just ETH price that stands to benefit from Ethereum's move to proof-of-stake in September.
A slew of Ether's technical and fundamental indicators support a push toward $2,500 by September.