After surging almost 40% over the past 30 days, crypto's leading smart contract platform could be suffering from a case of "buy the rumor, sell the news" regarding the Ethereum Merge.
Key points
The Ethereum blockchain's home-grown coin ETH was down more than 10% today to as low as $1,370.84 over the past 24 hours, according to CoinMarketCap.
The coin's price had been as high as $1,654.43 during the past month following news from developers that the Ethereum Merge could go live as soon as Sept. 19.
The core developer team for the Ethereum blockchain has been working to move the entire system from its current proof-of-work (PoW) protocol to an environmentally-friendly proof-of-stake (PoS) model.
Once completed, that migration (known as the Ethereum Merge) will increase the blockchain's scale, speed, and throughput while lowering the transaction costs.
During the past 30 days the price of Ethereum's in-house crypto coin Ether (ETH) soared nearly 40% on the news that the project's...
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