Ethereum Retests $1,500 Region, Shadow Fork Deployed Ahead Of Merge

Over the past 24 hours, the market has seen gains. Ethereum, increased by 8.13% while the market king, Bitcoin, has increased by 3.25%. The performance of the remaining top cryptocurrencies has been comparable to that of the two majors. With a price range of $1,362.95 to $1,602.61, ETH/USD has experienced significant volatility over the past 24 hours. While the overall market capitalization trades around $181.33 billion, trading volume has decreased by 14.18% to reach $17.13 billion, giving the market a dominance of 18.3%. Ethereum Suffer Setback Ahead Of Merge Even after the recent confirmation of the “Ethereum merge” shift to a proof-of-stake (PoS) consensus network in September, Ether (ETH) is down 11.5% in the last seven days. Tim Beiko, an Ethereum core developer, suggested Sept. 19 as a possible goal date at the Ethereum core developers’ conference call on July 14. Years have passed since the move away from energy-intensive mining, and a date has not yet been set for the shift to scalability using sharding technology, which allows for parallel processing. However, other analysts predict that the network’s monetary policy will increase Ether’s value. ETH/USD trades at $1,600. Source: TradingView The “supply shock” effect was noted by Ethereum researcher Vivek Raman. According to the analyst, the “merge” will “reduce ETH’s total supply by 90% ,” even i...