Back to collectionAfter the Merge, a Price Drop Tests the Conversation
Background: The Ethereum Merge had just finished, and engineers at the studio were still discussing how smoothly the transition had gone. Today: ETH fell below USD 1,500, quickly disappointing that expectation. Impact and next steps: Yesterday’s excitement over watching blocks arrive gave way to an argument about price.
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Background: The Ethereum Merge had just finished, and engineers at the studio were still discussing how smoothly the transition had gone. Night Watchman was tending the game community, where some people took a technical success to mean the price should rise too.
Today: ETH fell below USD 1,500, quickly disappointing that expectation. Miners no longer took part in Ethereum block production; the mining era had ended. When someone in the group treated the price drop as evidence that the transition had failed, Night Watchman urged them to separate the completed technical change from the market trading in front of them.
Impact and next steps: Yesterday’s excitement over watching blocks arrive gave way to an argument about price. Night Watchman planned to answer the two kinds of questions separately: explain the Merge to those asking about the mechanism, and discuss risk with those worried about their holdings. Whether the studio’s game could hold players’ interest remained a question for the game itself.