the period before the fusion The Ethereum protocol event saw a number of expectations from members of the Ethereum community and broader crypto investors as to how the price of the coin will be positively influenced.

This anticipation was cut short as the price of Ethereum after the merger has not been very impressive.

Since the merge event, Ethereum has largely traded below the $1,400 resistance point and is currently trading at $1,323.52, growing 2.53% over the last 24 hours according to data from CoinMarketCap.

Ethereum co-founder Vitalik Buterin has attempted to explain this price drop in a recent interview with Ezra Klein of the New York Times.

“I think the post-merger price drops, I mean, really surprised me. They really surprised everyone. There is an expression, by rumor, to sell the news. And I never really knew how seriously that expression should be taken or how often that kind of pattern plays out in real life,” he said when asked for his opinion on price declines.

“I guess the reason something like that would happen psychologically is that everyone gets excited and confident coming into an event. But then, when the event actually happens, it feels, in hindsight, almost less significant than everyone expected going into it. And then there’s this wave of disappointment, and the price ends up going down a little bit.”

For Vitalik, this is an explanation of the current performance of the Ethereum coin, and the second reason that can be attributed to this drop is the general condition of the market. For Vitalik, there is a widespread attack in the financial world that is affecting more than just the crypto ecosystem.

The interview also saw the crypto leader emphasize how the Terra founders tried to manipulate the market to keep their coin prices stable. In his opinion, he believed in those who lost to protocol when collapsed in May you didn’t hear the “A lot of smart people were saying, hey, this is fundamentally bad.

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