Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

NewsBTC 2022-08-30 10:29:36

Ethereum Trading Volume At Its Most Sluggish, ETH Price Struggles Below $1,600

Ethereum is feeling the pressure this early, with trading volume at the receiving end and impacting the price of ETH. A major event in the crypto industry, The Merge is eagerly anticipated by many. By combining with the Beacon Chain, Ethereum will implement a system based on proof-of-stake. This system will significantly reduce Ether’s energy consumption. Despite the Merge’s promises of a new tomorrow for Ethereum, investors continue to have poor faith in the currency. The price of ETH plummeted significantly below the $1,500 support line on August 28 and has been stuck in that border for the past two days. The expectations of traders are relatively modest. According to a source, trading volumes dropped by a shocking 45 percent on August 28. With a decrease in overall trading, transactions suffered a severe setback as well. As of this writing, Ethereum is trading at $1,580, down 1.7% in the last seven days. Related Reading: Litecoin (LTC) Performs Better Than Bitcoin In Last 24 Hours – Upward Motion In The Coming Days? Ethereum Trading Volume Sluggish The average number of seven-day Ethereum transactions per month has decreased to 42,490. This reflects the fears and perspectives of global traders at the present time. A reduced coin price is one of the deal-breakers for the merchants. Other coins’ prices have rebounded from recent declines. Polygon and Cardano are, at best, the most notable. The volume of Perp...

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.