Ethereum (ETH) Price Rebounds Still Trading Under $3K Psychological Level

• “The Merge” won’t happen in June, Beiko tweeted on April 11.
• Ethereum has been up 0.23% in the last 24 hours.

The recent drop in the previous seven days has kept the price of Bitcoin below $40,000. Several causes contributed to the decline in price, including an increase in inflation, global problems, and a shift in monetary policy. As a result, the cryptocurrency and stock markets continue to see elevated levels of short-term volatility. In recent months, the cryptocurrency market has closely followed the stock market. This makes it increasingly connected with the global economy. Ethereum price follows suit and fumbled, only to rebound recently.

Highly Anticipated “The Merge”

Tim Beiko, an Ethereum developer, said that “the Merge,” a massive upgrade, will not occur in June 2022. “The Merge” won’t happen in June, Beiko tweeted on April 11. Following up on April 12 with another tweet, he said it would be a couple more months before it was ready.

Using proof-of-stake instead of proof-of-work means that transactions on Ethereum will be reordered quickly. As a result, it will be much more suitable for mass usage, both sustainability and efficiency. Through his own production business, Scott Free Productions, legendary director Ridley Scott will bring Ethereum’s journey to the big screen. Shyam Madiraju, according to sources, would write and direct the film.

Early investors in Ether have reportedly seen a return of over 300 percent over the year, which means they have roughly tripled their initial deposits. However, all three main U.S. stock market indexes indicate a lower opening, while Ethereum has fallen to its lowest level since mid-March at $2,860. According to CMC, the Ethereum price today is $2,934.82 USD, with a 24-hour trading volume of $19,356,034,027 USD. Ethereum has been up 0.23% in the last 24 hours.