ETH - Is Coinbase Doing Right by Your Staked Ethereum?
It's fair to say that Ethereum 's (CRYPTO: ETH) highly anticipated Merge -- whereby the cryptocurrency migrated from the resources-draining proof-of-work mining protocol to the more efficient proof of stake -- went fairly smoothly. The engineers nailed the process, but investors aren't exactly celebrating right now.
The world's second-most-valuable crypto initially sold off following the Merge. An investment losing value after a widely expected bullish event isn't a surprise. The "buy the rumor, sell the news" adage is old hat to longtime traders. However, with Ethereum having plummeted 60% in value so far in 2022, it's not as if we can say that there was a lot of bullish sentiment heading into the Merge. Sell the rumor, sell the news more?
If you think that holding Ethereum has been rough through this cruel bear market for digital currencies, it could be worse. You could've staked your Ethereum last year through Coinbase Global (NASDAQ: COIN) .
For further details see:
Is Coinbase Doing Right by Your Staked Ethereum?