Ethereum has always been a long-term investment, being the most highly regarded and widely used blockchain platform.

The industry’s second-largest cryptocurrency transition from PoW to PoS was successfully completed. Even though enthusiasm before and shortly after the merge, as the transition is otherwise called, pushed Ethereum to $1,643, the momentum was quite short-lived, with prices plummeting fast below the $1,600 mark again. One specific chart suggests that investors may have anticipated the drop in prices following the merge, preparing to dump their holdings.

Ethereum remains the closest diversification to Bitcoin because of its trading volume, readily available for trade on every exchange, and the possibility of it surpassing in market cap, after reaching 100,000TPS like majority believed.