ETH Killers SOL, ADA, And BNB Reacts To Recent Merge

Today, September 15th, the long-awaited merge went live, completing ETH’s move from the PoW to the PoS consensus mechanism. Also, the prices of Ethereum killers, SOL, BNB, and ADA reacted to the news.

Have Ethereum Miners Moved To Ethereum Classic?

After the ETH merge, the price of Solana (SOL) started a small bullish movement. Binance Coin (BNB), on the other hand, started a positive trend reversal while Cardano (ADA) is falling farther behind.


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Also, the hash rate of Ethereum Classic (ETC) increased to over 222.5 hashes per second. This is an increase of over 200% from the previous rate on September 13th.

Therefore, most ETH miners may have moved to ETC following the merge. This must have led to the recent hash rate hike.

Before now, sustainability had been a.major selling point for layer-one blockchains such as Solana and Polygon. This had given them a hedge over Ethereum, but not anymore.

Moreover, Starbucks chose to launch its NFT program on Polygon because of its sustainability. Now that Ethereum has switched to PoS, it will utilize 99.95% less power. 

Hence, it will negate the advantage enjoyed by Ethereum killers. Meanwhile, crypto enthusiasts are watching to see what will become of them.

Price Of Ethereum Killers Fluctuates Following The Merge 

After reaching a low price on June 13th, SOL has been moving in an ascending wedge. This signifies a bearish pattern as its entire movement is within the wedge. Meanwhile, the price of SOL reached a new August high of $48.38 on August 13th. 

Since ADA’s ATH in August 2021, the token has been in a downward movement. Presently, ADA is in wave four. This is noticeable from the symmetrical triangle shape. If the price should fall from the triangle, it would move to the nearest support at $0.22 or $0.32.

BNB appears to have concluded a five-wave upward trend from the lows on August 10th of $337. The token has fallen below a declining resistance line since then. 

This appears to be an A-B-C corrective structure. Also, BNB broke through this descending resistance level on September 8th and is presently confirming it as support.

If successful, a subsequent upward trend is probable. However, if BNB goes underneath the support, it is likely to revisit the support at $242.


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As of the time of writing, ADA is trading at $0.475312, down by 0.95% in the past 24 hours. SOL and BNB are trading at $33.63 and $275.88, respectively.


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