Ethereum Struggles with Market Decline, but Analysts See Potential for Price Surge
Santiment, a leading crypto analytics firm, has shared a fresh evaluation of Ethereum (ETH), pointing to significant challenges the asset has faced recently.
Over the past seven weeks, Ethereum’s market cap has seen a sharp decline of 36%. This drop has led to a noticeable decrease in the percentage of ETH holdings that are in profit since its launch.
The current levels of profitability are the lowest in four months, with the number of profitable coins also reaching a three-month low.
The negative sentiment surrounding Ethereum has been amplified by its underperformance relative to other prominent altcoins, leaving the crypto community disheartened.
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Rap Start Kanye West Exposes $2M Crypto Scam AttemptAs fear, uncertainty, and doubt (FUD) spread and retail investors show signs of selling off, some analysts speculate that ETH could experience unexpected surges in value if the overall market starts to recover.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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