Another horror story about Ethereum. Read the explanation in the comments.
https://twitter.com/santimentfeed/status/1570339602346684416"According to our #Ethereum Post Merge Inflation dashboard, 46.15% of the #proofofstake nodes for storing data, processing transactions, and adding new #blockchain blocks can be attributed to just two addresses. This heavy dominance by these addresses is something to watch."
This is expected, POS are inclined to centralization because of this stuff. Anyway, it is fun watching on the sideline how the ETH POS transition plays in the later part.
The ETHW (the fork caused by the merge event) had been dumping fast, from $58.54 down to $4.53, it looks like many investors are not buying the trick but still, I am curious why there are still people falling in this kind of scheme. We all know that this fork won't be supported by ETH developers still other trader buy this "trash".
If this really happens and if there is a huge drop in its price, I'll be expecting more investor to sell their ETH for other potential projects. And I was thinking now for Solana to rally up.
Well, anyways, I know Mr. Vitalik knows the consequences of this and might also be aware of the current situation. Might this merge is a success story for ETH or not, but there is one thing I really see from the community - they are somewhat worried about the recent drop that might think and results in a negative impact on its market reputation.
Well, Merge is the initial step in implementing their project "The Surge" which solves lots of ETH shortcomings so we won't notice any difference on the ETH performance but surely we can feel the change of sentiment in the ETH market after the Merge since the hype of it is over now so definitely the price of ETH will have a correction reason for the current drop of ETH price in the market.