ETH trades in the red despite Merge success; BTC falls below $20K

ETH is down by nearly 10% after the successful execution of Merge.

Bitcoin and Ether have continued to trade in the red following Ethereum’s much-anticipated Merge upgrade earlier on Thursday, September 15. Ether (ETH) experienced a short-lived spike from $1,600 to $1,655 after the Merge, which marked Ethereum’s transition from proof-of-work to proof-of-stake. 

At the time of writing, ETH is trading at $1,465.57, a 9.42% reduction in the last 24 hours, while BTC is trading at $19,709.63. Major altcoins also continue to trade in the red, with Cardano down by 2.34% and Solana down by 4.64% in the last 24 hours.

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