The largest cryptocurrencies by market capitalisation continue to trend downwards over the past week, with Ethereum, Solana, Dogecoin and Polkadot declining over 20%.
Ethereum, which is moving to a proof-of-stake model, fell 24.5% over the past 7-days to US$1,369 apiece, despite a successful “merge” trial last week. The highly anticipated merge is slated to take place within the second half of the year.
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