5 Ways to Increase Acceptability of Cryptocurrency: From Skepticism to Mainstream Adoption
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2022-05-18 | Selina Mathew
Ethereum's allure in the crypto world may be fading. Not only because of its lackluster price action, but also because it is now unpopular.
Everyone is holding back ahead of the Merge, from institutional investors to regular investors. And it's having a negative impact on Ethereum presently.
Ethereum is still in trouble, and…
Following last week's disastrous meltdown, most ordinary investors participated in a market-wide sell-off. But not institutional investors. They purchased the assets that other investors had sold and invested approximately $274 million in them.
Litecoin, Tron, and even Cardano were on the list, but Ethereum was not. Ethereum had withdrawals totaling $26.7 million, continuing its trend of outflows. Monthly withdrawals increased to $41.8 million, bringing the year-to-date total to $236 million.
The merger has generated a lot of buzz and fear, which for some individuals is an opportunity to get in before prices skyrocket. Especially now that Ethereum will have PoS. Others believe it will have little influence because substantial changes in the crypto-space have failed before.
However, observing investor activity may provide some insight about the route they may take in the future. This story is distinct from bearish conjecture.
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