Ether falls 6% after the smart contracts network completes long anticipated ‘merge’

FAN Editor

An Ether cryptocurrency coin in seen in this photo illustration.

Jaap Arriens | Nurphoto | Getty Images

The price of ether fell Thursday after the Ethereum network completed its migration to the proof-of-stake consensus mechanism, also known as the “merge.”

Ether lost 6.5% to trade at $1,484.55, according to Coin Metrics. Traders had expected to see a decline in the price following the transition late Wednesday night.

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