Why did Ethereum drop despite successful merge? What to do next?
The Ethereum Merge was touted as game-changing for not just Ether, but for the entire cryptocurrency ecosystem. Investors for a while believed that the change from the proof-of-work to proof-of-stake verification process would bring unending value to Ether.
While the Merge went off without a hitch recently, the value of Ether has dropped precipitously. On September 15, when the Merge happened, Ether stood at $1,467.38. Six days later, on September 21, it stood at $1,313.12 - a drop of 10.5%. Over the last month, it has dropped a resounding 18.7%.
That is not at all what most people expected to happen. So, why did Ethereum drop in value so much?
We'll discuss that below, as well as three new crypto projects that have much better outlooks for investors - Tamadoge (TAMA), Lucky Block (LBLOCK) and Battle Infinity (IBAT).
The Merge Was Already Priced InIn the middle of June, Ethereum announced that it would be initiating the Merge, a major change in the verification process for the widely-popular blockchain. Immediately following that announcement, the value of Ether surged.
From a low point on June 19 of $880.93, Ether surged to $1,982.92 by August 13, a massive 125% increase. Investors were very excited about the prospects of Ether due to the Merge and the new proof-of-stake verification process that would be much quicker, more efficient and more environmentally friendly.
The problem as the Merge drew closer, though, is that this high price of August 13 already included the anticipation of the Merge. In other words, investors had already priced-in" the Merge when they gobbled up shares of Ether in mid-summer.
By the time the Merge happened, the sell-off was mainly due to people responding in what is known as a sell the news" situation. In other words, they figured that once the news became widespread - once the Merge actually happened - it was time to collect on all those gains.
That sent the price tumbling down, and it's unlikely to increase back to previous levels any time soon.
As a result, savvy crypto investors are turning to newer and more promising post Ethereum merge projects that are very promising and could bring outstanding returns. Three of those - Battle Infinity, Tamadoge and Lucky Block - are discussed below.
Battle Infinity Taking on Fantasy Sports GiantsBattle Infinity (IBAT) is revolutionizing blockchain gaming as we know it. It's a Play-to-Earn (P2E) fantasy sports universe that is going head-to-head with the fantasy sports giants in India known as the Mobile Premier League and Dream11.
Users are able to own everything within the game directly and build value of their NFTs over time on the metaverse. They do this by accomplishing various goals, increasing the value of not just their own NFTs but IBAT as a whole over time.
These NFTs can be competed with in the IBAT Battle Arena, which is the place in the metaverse where the different games are hosted.
IBAT's concept is one that many investors latched onto right away. The presale ended 65 days earlier than was originally expected. You can now purchase it on Pancakeswap, and it'll soon be available for purchase on LBANK as well.
Battle Infinity is going to start with the Indian Premier League when it's fully launched, which will come during Phase 7 of its roadmap.
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Tamadoge Changing Meme Coins ForeverTamadoge is completely changing the way people think about meme coins. These are no longer just jokes; they can build immense value for users and investors, and TAMA is taking the lead in this regard.
TAMA's Beta sale performed very well, and its presale ended early, too, after raising $19 million.
Tamadoge separates itself from other meme coins on the market by combining the NFT and P2E marketplaces all into one. It's built on the very popular Tamagotchi toy of the 1990s, too, which makes it very recognizable as well.
Users are able to take their doges onto the Tamaverse (metaverse), where they can hang out with their friends. They can also build value in the NFTs over time by breeding and training them, and then battling it out to see how high up the monthly leaderboard they can climb.
Once again, this unique approach to meme coins is what is resulting in the built-in and long-term value of this meme coin. It's why Tamadoge is able to fight off a lot of the volatility that other cryptos such as Ethereum aren't able to - even with the positive news of the Merge.
Lucky Block is no longer just a jackpot prize drawing. It's grown into a full-blown global NFT competitions platform.
LBLOCK gives users a unique experience they can't get elsewhere. Just for holding onto and building the value of their NFT, users are entered into drawings where they can win big jackpot prizes such as a Lamborghini, a $1 million house and even $1 million worth of bitcoin.
It's a full-blown decentralized autonomous organization that is fully controlled by its users. This makes it a very valuable and unique NFT to invest in while crypto such as Ether plunges
.
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Buy These Three NFTs Instead of the Hype of the MergeThere was a lot of publicity surrounding the Ethereum Merge, and for good reason. It went off without a hitch and could truly end up being game-changing for the second-largest blockchain in the world.
However, if you wanted to get in while the getting was good, you would have had to do so over the summer - a few months before the Merge actually happened. Now, it's seemingly too late, as you have missed the boat.
That doesn't mean that other cryptos based on the Ethereum blockchain should be ignored, though. Battle Infinity, Tamadoge and Lucky Block are three cryptos that are well worth the investment despite Ether's drop following the Merge. So, don't be too late on these three NFTs.
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