The correlation between Ethereum (ETH) and Nasdaq is increasing after the Merge update. Digital asset trading platform Cumberland thinks investor perception is holding back Ethereum from rising and increasing correlation.
Cumberland September 20 via social media account in his post, ETH/Nasdaq correlation of 2022 June after the summit climbing to the top by specifying the individual characteristics of the correlation ETH that you have overshadowed told.
High degree of company price movements macroeconomic correlation of crypto investors limiting the profit potential and deep understanding of on-chain dynamics make it difficult expressed. Investors’ behavior Stating that this correlation also has an effect on the concentration, Cumberland said that in digital assets, fiat currencies or stablecoins exchange with assets other than quite a few pointed to it. The company is the digital assets of this investor attitude. securitized He claimed.
Specific to Ethereum PoS weekly with the introduction of 100 million dollars worth of miner sales that it’s over Noting that Cumberland is such an important source of supply He said that the withdrawal from the market will of course affect the prices. The company also in the short term of the market can be suppressed however in the long run to economic changes cannot be resisted also stated.
