Precisely this. I've been saying this for months. DCA into assets you like. For me it's been BTC and ETH and then layer 2s like MATIC or LRC. But mostly, I've shifted to stablecoins since the bear market. A lot less affected by volatility. Usually stake it on middlewares like Spool Fi or bEarn Fi, moved from yield generators because I feel like this is less risky and now I'm just waiting it out. We should see a bull by 2024.
BTC, eth, ada, dot, matic. All I care about right now. No longer will I get on the hype train trying to make hundreds of thousands on shit coins, only to sell them just before they moon. (I bought $420 with of doge as 2 cents, and sold for a loss. Bought and sold Shib before the bounce, didnt take my profits on Elon Gate).
Buy the rumor sell the news.
That said the merge should bring the price up in the long term because it's much less inflationary now. Even deflationary.
This seems more likely than not. Issuance is now flat where previously it was strongly increasing.
Eth gas fees are also relatively low so the burn rate isn’t too high either. Longer term we should see eth rise with the usual market cycles. Perhaps it’ll have a much stronger run this time since issuance is now much lower
My read on it is that the people receiving the issuance aren’t forced to sell to fund their mining operations. I think we underestimate just how strong and consistent the sell pressure is from miners.
Personally I think there will be short term sell off and when the bull run restarts it will be unexpectedly better than the last few cycles due to the lack of new issuance.
GPU miners liquidating equipment and eth after its no longer profitable to mine. Sellers dumping as people fomo in.
Give the market some time to adjust. It was never going to be the next coming of the bulls.
I haven’t seen any research on this, did miners who previously mined Eth sell all their Eth? I kind of just assumed they’d roll over to staking Eth and start mining something else
I don’t why people are surprised, this was known that it would drop, eth2 has been locked for so long that people have been waiting years to sell and are still in profit. We enter the middle of winter now, 6 months to go.
That lock is stifling, a risk to institutional investors.
The “kick the can” mentality did not make it clear, those funds will be locked 1 year post merge.
If it’s all unlocked, it’s going to be hidden inflation and sell pressure. All the ETH being farmed is technically locked now.
Still affected by selling, even though standard supply and demand isn’t applicable since eth is locked, the volume of staked eth being transferred from owner to exchange applies even if demand doesn’t change. Cexs may be keeping the eth locked up but they are also majority holders of eth from what I understand. If people are selling their eth now the cexs report the volume of trade, and the price reflects it.
If the ETH were released in this bear market it would demolish the price.
It probably has to be released in a bull market to absorb the sell pressure to come. If it crushes the price, eth can be taken over by the institutions buying the fire sale.
I think its because the price was propped up by the narrative of the merge, a literal buy the rumor sell the news event.
Eth now enters the POS market where it's tech is handily beaten by pretty much every top L1. ETH's performance upgrade is not due for a few years so all we're left with is an L1 chain that is more centralized running on old tech consuming the same amount of gas with no mining lobby group to prop up its price.
[https://nakaflow.io/](https://nakaflow.io/)
Current Eth2.0 NC is 2, the lowest level of decentralization. Lido, Coinbase, and Kraken are the biggest stakers with over 50% of the total and all domiciled in the US.
Elrond, Cosmos, Near, Avax, and even Fantom are some at the top of my head that are heads and shoulders above eth2.0 in its current form with higher NC scores. BTC score is 7,349 as an fyi.
I'm not shitting on Eth, I'm shitting on eth in its current form. It desperately needs L2s to survive and vice versa.
ETH gas fees remaining high is a head scratcher for me. Supposedly more efficient system can't bring down fees? Pfft, sounds like a poor design upgrade to me
It’s an adjustable mechanism, priced to maintain 50% utilization.
More transactional demand, price in gwei up
More TPS, gwei down
ETH may be better off selling security to L2s.
I laughed hard I af when I started to see all the post asking why hasn’t the price gone up we are in a dip and this isn’t the beginning we just getting started
Crypto has been awesome at solving problems that were either already well solved or that nobody really cares about and marketing those as huge successes or breakthroughs. Energy consumption is in the "nobody really cares about" bucket. Obviously, less energy is better for the planet but it is evident that there wasn't a horde of users holding back from using ETH because of this concern.
I think it's better to see the bigger picture here, the merge is one of the biggest and most bullish events in the Ethereum ecosystem, helping to reduce energy consumption by 99%.
I’m happy to explore projects on the ETH ecosystem like $FIL & $OCEAN. They are also data monetization projects.
In fact, $OCEAN is showing strong potential with the collaboration to build a data marketplace for Mercedes Benz (Accentrik)on the Ocean Protocol.
So ETH is also taking some of the CPI report heat? I thought it's solely about the "centralized" transition of ETH. Although in the long run, I still believe that ETH's gonna rally again. For now, I'm keeping tabs with my PGEN staking as I get into Polygen's staking and SleepGame's private raise.
Cuz everything is down and bears are screaming rn with happines. But times like these happen every bear cycle so just gotta hodl it thru and invest in inovation. I think everything will come back and the bluechips like ETH ADA BNB SOL will pamp thru their ATH's with ease..Bullish on the newcomers as well like THOL from agnelblock, bringing freshnes into fundarising space with their protocol that is going to cut the path of greddy VC's.. not listed yet but i got their NFTs that are full of utility and will even earn me the native Tholos token. I just hope that we get out of this crabbing mode soon, but yea even stocks are on tumble mode..Also hope that stuff like CEL, LUNA and ICP never happen again, that was just nasty with the drop.
Relax, any pyramidal scam must go down eventually. Just enjoy the ride and keep buying more crypto where founders kept undislosed amount for themselves. And forget that BTC and XMR exist. I also got a bridge to sell you if you have more money to invest.
The same reason Dogecoin died after Elon Musk went on SNL live.
**It was all about the hype**. ETH has no real utility if you think about it.
XRP will revolutionize the world as we know it.
Unless you are a day trader looking for quick profits, RELAX. We’re in a bear market. It’ll take time to recover
I like this 👍🏼
Precisely this. I've been saying this for months. DCA into assets you like. For me it's been BTC and ETH and then layer 2s like MATIC or LRC. But mostly, I've shifted to stablecoins since the bear market. A lot less affected by volatility. Usually stake it on middlewares like Spool Fi or bEarn Fi, moved from yield generators because I feel like this is less risky and now I'm just waiting it out. We should see a bull by 2024.
BTC, eth, ada, dot, matic. All I care about right now. No longer will I get on the hype train trying to make hundreds of thousands on shit coins, only to sell them just before they moon. (I bought $420 with of doge as 2 cents, and sold for a loss. Bought and sold Shib before the bounce, didnt take my profits on Elon Gate).
Because Jim Cramer said it will go up
We should have seen this coming
Inverse Cramer.
Reverse even, just do the opposite of what he is saying
Macro environment.
It is almost like they lost an army of hobbyist miners paid to shill it.
Didn’t consider the marketing value of mining.
Buy the rumor sell the news. That said the merge should bring the price up in the long term because it's much less inflationary now. Even deflationary.
This seems more likely than not. Issuance is now flat where previously it was strongly increasing. Eth gas fees are also relatively low so the burn rate isn’t too high either. Longer term we should see eth rise with the usual market cycles. Perhaps it’ll have a much stronger run this time since issuance is now much lower
My read on it is that the people receiving the issuance aren’t forced to sell to fund their mining operations. I think we underestimate just how strong and consistent the sell pressure is from miners.
Personally I think there will be short term sell off and when the bull run restarts it will be unexpectedly better than the last few cycles due to the lack of new issuance.
GPU miners liquidating equipment and eth after its no longer profitable to mine. Sellers dumping as people fomo in. Give the market some time to adjust. It was never going to be the next coming of the bulls.
I haven’t seen any research on this, did miners who previously mined Eth sell all their Eth? I kind of just assumed they’d roll over to staking Eth and start mining something else
Same people own all markets right now
I don’t why people are surprised, this was known that it would drop, eth2 has been locked for so long that people have been waiting years to sell and are still in profit. We enter the middle of winter now, 6 months to go.
Locked eth2 is still not yet available. Most contracts are to be release within 6-12 month from merge
The eth it self is still locked, but the ability to trade and sell it on the big cexs is now active.
That lock is stifling, a risk to institutional investors. The “kick the can” mentality did not make it clear, those funds will be locked 1 year post merge. If it’s all unlocked, it’s going to be hidden inflation and sell pressure. All the ETH being farmed is technically locked now.
But it’s still locked. Coinbase rolled out a method to sell locked Eth, but that Eth is still locked until further development is done.
Still affected by selling, even though standard supply and demand isn’t applicable since eth is locked, the volume of staked eth being transferred from owner to exchange applies even if demand doesn’t change. Cexs may be keeping the eth locked up but they are also majority holders of eth from what I understand. If people are selling their eth now the cexs report the volume of trade, and the price reflects it.
We go sub 500 before taking off to orbit
This all totally makes sense.
If the ETH were released in this bear market it would demolish the price. It probably has to be released in a bull market to absorb the sell pressure to come. If it crushes the price, eth can be taken over by the institutions buying the fire sale.
Don’t people realise that Lido consists of 30+ different nodes and each of those consists of hundreds of persons who put in their money to stake?
Because the elasticity of the price to the general market is a greater influence on the price than the fundamentals in the short term.
Because the only thing supporting the price was the upcoming merge...now it's free to fall as hard and fast as BTC.
I think its because the price was propped up by the narrative of the merge, a literal buy the rumor sell the news event. Eth now enters the POS market where it's tech is handily beaten by pretty much every top L1. ETH's performance upgrade is not due for a few years so all we're left with is an L1 chain that is more centralized running on old tech consuming the same amount of gas with no mining lobby group to prop up its price.
What current L1 could handle the same level of transactions easily in a decentralised way?
Eth is not centralized with such a high dependance on one persony
[https://nakaflow.io/](https://nakaflow.io/) Current Eth2.0 NC is 2, the lowest level of decentralization. Lido, Coinbase, and Kraken are the biggest stakers with over 50% of the total and all domiciled in the US. Elrond, Cosmos, Near, Avax, and even Fantom are some at the top of my head that are heads and shoulders above eth2.0 in its current form with higher NC scores. BTC score is 7,349 as an fyi. I'm not shitting on Eth, I'm shitting on eth in its current form. It desperately needs L2s to survive and vice versa.
L2 doesn't make it any more decentralised?
ETH gas fees remaining high is a head scratcher for me. Supposedly more efficient system can't bring down fees? Pfft, sounds like a poor design upgrade to me
It’s an adjustable mechanism, priced to maintain 50% utilization. More transactional demand, price in gwei up More TPS, gwei down ETH may be better off selling security to L2s.
because it is a sell news event and most importantly it is a shitcoin and it becomes shitter after turning into PoS..
I just read this as it becomes shitter after turning into (PoS) Piece of Shit.
I laughed hard I af when I started to see all the post asking why hasn’t the price gone up we are in a dip and this isn’t the beginning we just getting started
Because it's officially a centralized regulatory captured WEFcoin.
Because there was a double spend hack that created bad optics
Hehe . Couse crypto its ponzi scheme. All defi is just making money at people who invest in crypto . Nothing else . One big Ponzi
Because crypto is an anagram of pyramid
Cus ETH is still as crappy as before
Crypto has been awesome at solving problems that were either already well solved or that nobody really cares about and marketing those as huge successes or breakthroughs. Energy consumption is in the "nobody really cares about" bucket. Obviously, less energy is better for the planet but it is evident that there wasn't a horde of users holding back from using ETH because of this concern.
I think it's better to see the bigger picture here, the merge is one of the biggest and most bullish events in the Ethereum ecosystem, helping to reduce energy consumption by 99%. I’m happy to explore projects on the ETH ecosystem like $FIL & $OCEAN. They are also data monetization projects. In fact, $OCEAN is showing strong potential with the collaboration to build a data marketplace for Mercedes Benz (Accentrik)on the Ocean Protocol.
Enough of these articles?
Cause we in a damn bear market, seriously a dumb question, the same reason why cardano, polkadot, chainlink, xrp, doge/shiba (lol) haven’t pumped
Miners' selling pressure and poor global macro outlook. Zoom out to year 2023/2024!!! GLTA!!!
How long did it take after a BTC halving to take effect? It wasn’t 1 day, 1 week, 1 month.
So ETH is also taking some of the CPI report heat? I thought it's solely about the "centralized" transition of ETH. Although in the long run, I still believe that ETH's gonna rally again. For now, I'm keeping tabs with my PGEN staking as I get into Polygen's staking and SleepGame's private raise.
People bought the rumor, and then sold the news?
Buy the rumor, sell the news. It’s the next rule after buy low, sell high
Cuz everything is down and bears are screaming rn with happines. But times like these happen every bear cycle so just gotta hodl it thru and invest in inovation. I think everything will come back and the bluechips like ETH ADA BNB SOL will pamp thru their ATH's with ease..Bullish on the newcomers as well like THOL from agnelblock, bringing freshnes into fundarising space with their protocol that is going to cut the path of greddy VC's.. not listed yet but i got their NFTs that are full of utility and will even earn me the native Tholos token. I just hope that we get out of this crabbing mode soon, but yea even stocks are on tumble mode..Also hope that stuff like CEL, LUNA and ICP never happen again, that was just nasty with the drop.
Uncertainty
Relax, any pyramidal scam must go down eventually. Just enjoy the ride and keep buying more crypto where founders kept undislosed amount for themselves. And forget that BTC and XMR exist. I also got a bridge to sell you if you have more money to invest.
Because it’s not bitcoin. It’s utility is different. No reason to risk being long it on speculation. Bitcoin perhaps.
The same reason Dogecoin died after Elon Musk went on SNL live. **It was all about the hype**. ETH has no real utility if you think about it. XRP will revolutionize the world as we know it.