Ethereum’s native token, Ether (ETH), looks ready to undergo a massive rally due to a mix of technical and fundamental factors. That marks the Ethereum network’s first deflationary move — where more ETH is being destroyed than created — since its switch from proof-of-work (PoW) to proof-of-stake (PoS) via the Merge one month ago. The same started happening after Oct. 8, with evidence showing that a new crypto project named XEN Crypto is increasing network traffic. In other words, a new project made Ether deflationary for the first time since Merge, currently comprising over 40% of all Ethereum transactions. ETH/USD and Nasdaq Composite daily correlation coefficient. Source: Cointelegraph #Ethereum