The historic Merge upgrade resulted in anticipation regarding Ethereum’s (ETH) prospects for the future with the possibility of attracting new users to the platform. However, with the prevailing market downturn, the initial stages of the Merge have failed to live up to the expectations with the asset recording capital outflow. In particular, as of October 3, Ethereum had a market capitalization of $195.89 billion, representing a loss of 19.22% from the $158.23 billion recorded on September 15, when the Merge officially took place. Over the period, the asset has lost about $37.66 billion, according to CoinMarketCap data. At the same time, the capital outflows are reflected in Ethereum’s price, which has steadily plunged while struggling to stay above $1,300. By press time, the decentralized finance (DeFi).
Ethereum lost almost 20 of its market cap since the Merge upgrade
