![]() The initial price drop may well have been influenced by news coming out of the United States. However, subsequent falls meant that by 7 October, however, it was trading at around $1,355, and despite the announcement that customers of investment firm Fidelity would be able to trade ether, it was worth about $1,285 on 21 October 2022.Īfter that, though, the news that Google had launched a node-management service compatible with the Ethereum blockchain saw the price break past $1,500 for the first time since the day of The Merge on 25 October.Ĭoupled with renowned crypto enthusiast Elon Musk’s takeover of Twitter, it reached a high of $1,652.38 on 29 October before slipping back somewhat to about $1,580 on 31 October. In the short term, the news has been bad. On 13 September, ETH was trading at about $1,710, but market conditions meant that it slid to $1,610 on 14 September, before a post-Merge boost saw it reach a high of $1,648.95. Now that The Merge – the move by Ethereum from a proof-of-work ( PoW) to a proof-of-stake ( PoS) verification method, which is reckoned to reduce the world’s electricity usage by 0.2% – has taken place, the big question is: What will happen to the price of ETH? US30 US Wall Street 30 (USA 30, Dow Jones)
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