{"id":500473,"date":"2022-08-30T10:29:36","date_gmt":"2022-08-30T10:29:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=500473"},"modified":"2022-08-30T10:29:36","modified_gmt":"2022-08-30T10:29:36","slug":"ethereum-sheds-1500-support","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-sheds-1500-support\/","title":{"rendered":"Ethereum Trading Volume At Its Most Sluggish, ETH Price Struggles Below $1,600"},"content":{"rendered":"
Ethereum is feeling the pressure this early, with trading volume at the receiving end and impacting the price of ETH.<\/p>\n
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.<\/p>\n
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\u00a0for the past two days.<\/p>\n
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.<\/p>\n
As of this writing, Ethereum is trading at $1,580, down 1.7% in the last seven days.<\/p>\n