The merge, a significant network improvement for Ethereum, is said by supporters to significantly increase transaction energy efficiency.

Blockchain technology called Ethereum makes it possible for programmers to create apps on top of it.

The merge is an upgrade to Ethereum that switches the proof-of-work approach for transaction validation to a proof-of-stake method.

Even though the upgrade was successful, ether has decreased more than bitcoin.

Ether is currently down 15%.  In the same time frame, Bitcoin has decreased by about 3%.

Ayyar claims that traders are also reinvesting their funds into bitcoin from ether and other alternative digital currency.

Investors in cryptocurrencies are also nervous as a result of the U.S. Federal Reserve's anticipated increase in interest rates this week.

Unexpectedly high U.S. inflation in August hurt stocks and cryptocurrencies.