Try Quests to earn cryptoETH Merge: Selling Event?
What is Ethereum?
Ethereum is a decentralized network, no government body oversees it and it is not controlled by any person or intermediary.
The decentralization of the Ethereum network has made this blockchain resistant to events such as hacking, network failure due to equipment failure, etc.
Ethereum is a network based on blockchain technology that enables the creation of decentralized applications.
These decentralized programs are created using contracts called smart contracts, and their distinctive feature is the absence of fraud, censorship, downtime, and third-party interference.
What is The Merge?
The transition of the Ethereum network to Proof of Stake (PoS) or its new consensus mechanism for verifying cryptocurrency transactions is called The Merge.
In Ethereum's old proof-of-work (PoW) system, like Bitcoin, miners compete to publish blocks by solving cryptographic problems. But in proof of stake(PoS), validators who stake (lock) at least 32 Ether (about $50,000) into the network are randomly selected to build blocks.
The more Ethereum they spend, the more likely they are to choose one.
A miner or validator who wins a block in both systems is rewarded with a combination of transaction fees and newly created Ethereum. In addition, PoS validators are rewarded for taking additional network security measures.
In this dashboard, we focus on the Ethereum Merge event.
We know that this event happened on the 15th of September and therefore we limit our analysis to the month of September.
In this dashboard we check:
- ETH price in September.
- The volume of ETH and amount of ETH swapped before and after Merge.
- Amount of ETH swapped, number of swappers, and transactions before and after Merge.
- Wallets that miners transferred the most Ethereum to during the month of the merge event.
Above we see the price of ETH in the month when the Merge happened. We know the Merge happened on September 15th.
Above we see ETH volume before and after Merge. We also see the amount of ETH swapped before and after Merge.
As can be seen, the volume of ETH entered on September 16 has increased.
In these charts we see:
Amount of ETH swapped before and after Merge.
The number of swappers and the number of their transactions before and after the merge event.
Based on our chart, we can see the high volume of ETH swapped on September 16th.
However, we see that the number of swappers on the 16th is not more than on other days.
As shown in the charts in this section, the wallets into which miners have transferred the most ETH during the month of the merge event have been dex and cex.
Conclusion
In this dashboard, we first checked the Ethereum network and the Merge event and explained about them.
As can be seen in the charts there was no significant relationship between the merge event and the selling actions of Ethereum users. the price chart shows that the cryptocurrency market is in a bear state and we know that the event can’t change the trends on markets.
We looked at the price of ETH in the month of the Merge event.
We also reviewed the volume of ETH and the amount of ETH swapped before and after the Merge event.
We observed that on September 16th, one day after the Merge event, the amount of ETH increased significantly.
Next, we reviewed the amount of ETH swapped, the number of swappers, and the number of their transactions before and after the Merge event.
Finally, we looked at the wallets where miners transferred the most ETH in the month of the Merge event.
We came to the conclusion that the most related to CEX and DEX.
