The Ethereum merge occurred yesterday and for all intensive purposes. It was a success. However, that success does not seem to have translated into the price action very much as the price has declined in the immediate aftermath. I don't think this is much of a surprise though, mainly because the inflation in the United States increased by 0.1%. Meaning that the Federal Reserve will most likely continue to increase interest rates causing investors to flee to safer assets. 

The Ethereum merge, for those who don't know. Was the changing of the Ethereum network from a proof-of-work to a proof-of stake network. This means that in order to validate transactions, an individual would need to stake their tokens which gives them rewards for validating. This is to replace the need of miners to validate transactions using physical GPU's. Staking helps to secure the blockchain. 

The move to proof of stake is purely a means of reducing Ethereum's energy consumption. Energy consumption has been a big part of the investment world for a few years now and the main driver for this is the fear of global climate change. By Ethereum switching to proof-of-stake, the network has positioned itself as a no-brainer for the ESG(Environmental, social, and corporate governance) conscious investor.