Ethereum: Buy the Dip?
Whatever happened to the big post-Merge rally for Ethereum (CRYPTO: ETH)? The second-largest cryptocurrency in the world is down 25% during the past 30 days. Given the general malaise afflicting both crypto and equity markets, this downturn perhaps shouldn't be that concerning, but investors were expecting so much more from Ethereum after it just completed the single-greatest feat in crypto history.
The good news, though, is that Ethereum is likely undervalued right now at its current price of $1,309. Ethereum is down more than 60% for the year and is down nearly 75% from its all-time-high of $4,891.70. That said, there are a number of different reasons to consider buying Ethereum on the dip.
A common misperception about Ethereum is that The Merge is a "one and done" event. That's not exactly the case. As Ethereum co-founder Vitalik Buterin pointed out in mid-July, even after The Merge, new performance enhancements coming to Ethereum will continue over a longer rollout period. Right now, the upgrade is only 55% done, says Buterin. So if you've been disappointed by slower-than-expected transaction speeds or higher-than-expected transaction fees coming out of The Merge, relax.
Source Fool.com
