The price of Ethereum fell to $1267 on the morning of October 13, 2022. The popular cryptocurrency has been trading above $1,300 in recent weeks.

The appearance of the Merge fork did not help the coin. On the contrary, after the release of the update, the price of ETH began to fall.

CryptoQuiant published data showing that since mid-September a drop of coins has been on wallets. Now, the volume is 22.006 million ETH.

This is not the first time this situation has arisen. Similar events were observed in 2016-2017. The price of ETH fell for a long time, and then rose sharply. It is possible that it will be the same scenario this time.

The number of new addresses on Ethereum has reached 5,044,161. Investors continue to register and test the currency.

Open interest in ETH futures reached its highest level since September 14 at $8.037 billion.

Among the exchanges with the largest number of open contracts are: FTX, Binance and OKX. They scored $2.08 billion, $1.98 billion and $1.14 billion, respectively.