10x Research: The ETH/BTC exchange rate has dropped 37% since the Ethereum merger on September 15, 2022

In its latest market analysis, 10x Research stated that since the Ethereum merger on September 15, 2022, the ETH/BTC exchange rate has dropped by 37%. This rate repeatedly encountered resistance at the upper boundary of the declining channel and found support near its lower edge. In anticipation of this week's U.S. CPI data release, we observed a rebound in this exchange rate, possibly driven by short covering. Ethereum developers continue to advance expansion solutions with a primary focus on aggregating transactions to improve efficiency with a goal of 100,000 transactions per second while also striving to enhance user experience and network efficiency. Account abstraction is set up to introduce smart contract wallets making the platform more user-friendly and reducing transaction costs. Moreover, achieving single slot finality will greatly speed up block finalization improving network performance. Previous upgrades such as Merge and Dencun had little impact on ETH's price; instead its value remains primarily driven by macroeconomic factors like inflation.