Unlike Merge, Ethereum’s Shanghai Upgrade Could Bring Ether Price Volatility

Ether’s price dropped 10% to $1,472 on the day of the Merge, but volatility quickly faded, with prices trading in a narrow range of $1,300 to $1,400 during the following four weeks. Ether’s 30-day realized volatility fell from an annualized 85% to nearly 60% in the four weeks following the Merge, according to data sourced from Amberdata. Realized volatility is a backward-looking metric measuring the degree of price turbulence observed over a specific period in the past.