Ether Slumps as ‘Merge’ Turns Into a ‘Sell-the-News’ Event

From bnnbloomberg.ca

Ether led digital assets lower after the groundbreaking software upgrade of the token’s underlying network turned into a “sell-the-news” event. The second-largest cryptocurrency by market value after Bitcoin dropped as much as 8.9% to $1,460. The token, already down more that 50% this year, had rallied more than fivefold last year in part on optimism about the software revision. “Now the excitement around the Merge is done, and we don’t have a catalyst for Ethereum in the short term,” said Martha Reyes, head of research at BeQuant, crypto exchange and prime broker. “It would be natural to expect a bit ... (full story)