Prior to the Ethereum blockchain's historic switch to a more energy-efficient system last week, there were years and months of preparation.
Data miners on the network have gathered ether, a cryptocurrency, to the tune of around $341 million (ETH).
After the Merge, cryptocurrency analysts are now cautioning that miners' sales of their hoards may become a cause of short-term volatility.
There is negative pressure on the price of the cryptocurrency as the market has already declined by 19% over the last month.
To reinstate up-only mode, we must overcome the overhang caused by miners selling their ETH in the upcoming months.
Ethereum miners dumped over 16,000 ETH from Sept. 12 to Sept. 19.
The fall brought the miners' total holdings down to 245,000 ETH, or roughly $319 million.