
Energy use is down, and staking is up, but technical concerns still mark the road ahead for the second-largest cryptocurrency by market cap.
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LDO price faces downside risks from “sell-the-news” sentiment coupled with a bearish technical setup.
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Researcher Vivek Raman said that after the Merge, ETH inflation will be lower, security will be better and ETH will position itself as a digital bond.
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The second-largest cryptocurrency will see over 8% growth against its top rival should the technical outlook play out.
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The second-largest cryptocurrency falls 13.30% versus Bitcoin’s 9.38% decline as China’s move scares investors away.
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Meanwhile, the amount staked in Ethereum 2.0 smart contracts reached over 7.75 million ETH.
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Ether continues to trade lower under the shadow of Bitcoin in days leading up to its supply-crunching hard fork event.
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The second-largest cryptocurrency sells off in line with Bitcoin as traders assess the latest U.S. inflation data.
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