Ether dropped to a seven-week low, and a bonus token awarded to holders of the digital asset tumbled by more than 50% as crypto investors turned their attention back to the broader selloff in riskier assets.
Ether, the native currency of the Ethereum blockchain, was down for a fifth consecutive session, dropping as much as 6.5% to US$1,407. The transition of the network to a more energy-efficient method of handling transactions known as the Merge had captured the focus of investors for weeks.
