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With the completion of the long-awaited Merge, Ethereum should become greener.

The crypto world is experiencing D-Day.After years of speculation and planning, the much-awaited The Merge update to the Ethereum platform was eventually released on September 15.

The native currency of the Ethereum network, ether, was down 7% to $1,473 at the time of the last check, according to the data firm CoinGecko, thus the adjustment did not appear to have much of an effect on prices.In terms of market value, Ether ranks second to bitcoin, which was also down 2.7% to $19,633. To $0.059051, Dogecoin was down 2.6%.

The merger will switch Ethereum’s Proof-of-Work (PoW) transaction consensus mechanism to Proof-of-Stake (PoS). Proof-of-work is used in the Bitcoin ecosystem.Proof-of-Stake, according to Winston Ma, managing partner of CloudTree Ventures, “swaps out miners for validators, possibly drastically reducing energy usage.”

The Ethereum Foundation, a team of developers that manages the blockchain, claims that Ethereum should now use a great deal less energy than it did previously.

Because of the hoopla surrounding the Merge, ETH was also a victim but was able to recover some of its losses, he said. “It appears from futures data that ETH traders were anxious before the Merge. Binance Futures’ funding rates on Wednesday were -0.216%, which is around 100 times higher than the average rate.”Endres continued, “This suggests that traders shorting ETH were paying enormous margins to keep their positions open before to the Merge, perhaps hedging against potential unfavourable situations.

Yesterday’s stock and cryptocurrency values fell due to worse than anticipated news. According to the most recent consumer pricing index (CPI) data, inflation grew 8.3% annually and by 0.1% for the month. Economic experts had anticipated a little decline. It signals to consumers that high costs will persist. For investors, it means sustained price pressure for higher risk assets.

The Federal Reserve is more likely to hike interest rates by 0.75% later this month as a result of the subpar results. Rate increases make consumers pull their money out of riskier investments like cryptocurrency, and many economists worry that the Fed’s aggressive actions could bring on a devastating recession.

This week, the market leader in cryptocurrencies, Bitcoin (BTC), has been steadily rising. Before the inflation news, BTC had risen beyond $22,600 after falling below $19,000 a week earlier. Then, yesterday, it decreased to almost $20,000, according to data from CoinMarketCap. Many cryptocurrency analysts anticipate greater declines.

With the impending transition from proof-of-work mining to proof-of-stake, Ethereum (ETH) will significantly reduce the amount of energy it consumes. On the strength of optimism surrounding the merger, Ethereum briefly crossed the $2,000 mark in mid-August, wiping off some of this year’s losses. It wasn’t enough, though, as Ethereum’s price fell by about 10% yesterday after the CPI announcement, indicating that it couldn’t withstand economic pressure.

The overall value of the cryptocurrency industry, which had just reclaimed the $1 trillion threshold, has dropped to $957 billion. We should anticipate that crypto prices will continue to suffer as new economic difficulties appear in the distance.

As hitting a three-week high, Bitcoin immediately fell after US inflation statistics came in worse than many traders had anticipated. Other prestigious cryptocurrencies also decreased.

After consumer price index, or CPI, inflation data came in hotter than anticipated, there was a fresh expectation that the US Federal Reserve would adopt a more restrictive US monetary policy, which led to Wednesday’s decline in the price of cryptocurrencies.

The US consumer price index grew just 0.1% in August, but the core rate of inflation—which excludes the cost of oil and food—rose sharply by 0.6%, above Wall Street’s prediction of a 0.3% increase.Bitcoin (BTC-USD) was trading at a three-week high on Tuesday of $22,652 but has since dropped 9.5% to $20,261 as of this writing.

Ethereum (ETH-USD) lost gains earned prior to the publication of the inflation statistics and followed bitcoin on its descent.Despite the expectation for tomorrow’s Ethereum “merge” to a proof of stake technique for transaction validation, the second-largest cryptocurrency in the world (ETH-USD) dropped from $1,745 on Tuesday to $1,609.

Following bitcoin’s decline, Ethereum (ETH-USD) erased gains made before the release of the inflation numbers.The second-largest cryptocurrency in the world (ETH-USD) fell from $1,745 on Tuesday to $1,609 despite the assumption that Ethereum will “merge” to a proof of stake technique for transaction validation tomorrow.

Hedge funds and family offices that have flocked to the digital world now have one less reason to keep investing as the crypto returns that institutions generally seek have dropped below what the US government pays to borrow for three months in a rare reversal.

Interest rates are rising almost everywhere due to the Federal Reserve’s hawkish stance, but not in the speculative world of cryptocurrencies, where yields have fallen along with volumes, eliminating some of the main opportunities for generating double-digit returns, while the failure of crypto lenders like Celsius Network and the implosion of the Terra stablecoin project have eroded confidence.

According to Jaime Baeza, chief executive of ANB Investments, a hedge fund that specialises in digital assets, “two years ago, interest rates in crypto were at least 10% while in the real world rates were either negative or near-zero.” “Now it’s almost the opposite, with central banks hiking rates and crypto yields collapsing.”

The crypto winter of this year has already cast doubt on several of the main claims made by supporters, including the claim that the asset class provides a hedge against inflation and political unrest. Instead, despite falling considerably more quickly, Bitcoin has largely moved in line with market indexes like the S&P 500.But government debt, which is basically risk-free, has yields that match or even surpass those of cryptocurrencies very recently.

Falling yields in the crypto market do not indicate decreased risks, unlike in traditional markets. Yields, which indicate the rate an investor can expect to earn by lending out holdings on exchanges and decentralized-finance protocols, or by depositing them with cryptocurrency lenders, sometimes in the form of stablecoins, are determined by trade volumes rather than risk sentiment.

Six eminent United States Senators are pressuring Meta Platforms, the Mark Zuckerberg-led social media corporation, to reveal its policies for handling cryptocurrency scams on its platforms.

The Senators asked for particular information about “Meta’s efforts to prevent cryptocurrency scams on its social media platforms, including Facebook, Instagram, and WhatsApp,” in a letter they sent to Zuckerberg.

These frauds, which mostly involved investment and romantic fraud, cost the general public $417 million in losses. Instagram accounted for more than 25% of the events, with social media websites hosting a significant amount of the illegal behaviour.The senators wrote to Zuckerberg to inform him that his organization’s decision to forbid advertisements for initial coin offerings shows that it is aware of the growing threat posed by cryptocurrency scams (ICO).

The seven questions posed to Zuckerberg ask for more information regarding the company’s policies and procedures for identifying and banning scammers from its social media platforms, how the system flags advertisements that may be cryptocurrency scams, and how the business responds to user complaints of crypto scams.