Investors Withdraw ETH Holdings Despite Successful Ethereum Merge

Investors Withdraw ETH Holdings Despite Successful Ethereum Merge

Before the Ethereum merge event, some experts and investors predicted a fall in the price of Ethereum and hence traded cautiously. Popular analysts referred to the merge hype as a buy the rumor, sell the news scenario.

The Feds reserves tightening and other market factors added to the volatility recorded in the valuations of ETH, BTC, and other Altcoins.

After the merge event, analysts’ predictions proved right as the ETH price crashed below the support level. As a result, several ETH investments got withdrawn, and a few additions were recorded after the merge.

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According to reports, ETH investments were reduced by $15.4 million, while BTC investments increased by $17.4 million. The data could imply that investors pulled out from Ethereum to Bitcoin.

Contrary to the

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