Liputan6.com, Bandung – ethereum, Cryptocurrency The world’s second largest has undergone a significant transformation that will transform its technology to reduce carbon emissions by more than 99.9 percent. known as conversion Consolidation It ended on Thursday (15/9/2022) so move Cryptocurrency After years of development and delays in a much more energy efficient system.
“And we’ve done it! Congratulations on putting it all together. This is a big moment for the Ethereum ecosystem,” Ethereum founder Vitalik Buterin tweeted.
With this integration, that means technology BlockchainIt is an upgrade from the energy-intensive cost model used by its rival Bitcoin.
Although Thursday’s consolidation went smoothly, the price of Ethereum actually fell. In Friday’s trading (09/16/2022), according to data from Coinmarketcap, Ethereum traded at around USD 1,471 or Rp. Trading at 22 million, Ether is down 10.02 percent in the last 24 hours and 10.42 percent on the week.
Anto Paroian, CEO of crypto hedge fund ARK36, said it’s important to note that the consolidation process was largely pre-priced.
“Ethereum appreciated more than 100 percent from its June low. It appears that if the merge has a positive impact on Ethereum’s price action, the growth may not be sustainable,” said Parian, quoted by CNBC, Friday (16/9/2022).
After the cryptocurrency fell along with other risk assets in the first half of the year, Ether rallied to start the second half and has since outperformed Bitcoin.
It rose nearly 70 percent in July, compared with Bitcoin’s 27 percent gain, according to CoinMetrics. It fell about 9.3 percent in August, compared to Bitcoin’s loss of about 17 percent.
“Many investors expect this to be the type of news selling event that means, after the initial spike, we may actually see the price of Ethereum continue to decline over the next few days or weeks, especially like everything else. From the crypto market, ETH is still strongly driven by the negative macroeconomic outlook,” Parian explained.
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