Phase of Honeymoon Is Over

Following several months of headwinds for the crypto space, the crypto market trended lower in September. ETH fell significantly more than BTC as Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS) via The Merge. ETH sold off sharply post-Merge in classic “buy the rumor, sell…

The post Honeymoon Phase Is Over appeared first on Kraken Blog.

After facing challenges for several months, the cryptocurrency market trended downward in September. As Ethereum switched from proof-of-work (PoW) to proof-of-stake (PoS) via The Merge, ETH declined substantially more than BTC. Following the merge, ETH experienced a significant sell-off in the traditional “buy the rumor, sell the dream” scenario.

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