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Will Ethereum's (ETH) Fate Come Back? Analysis Firm Talks About Surprise Moves!
Cryptocurrency analysis company Santiment has released a new evaluation of Ethereum (ETH), which has been criticized by the crypto community in recent times due to its low price performance.
Ethereum's total market value has dropped by 36% compared to just seven weeks ago. According to the analysis firm, this decline has resulted in a significant decrease in the proportion of ETH in profit since its initial release. When evaluating the percentage of coins in profit at the daily closing time, it reached its lowest level in the past four months, and as for the number of coins in profit, it indicated a three-month low.
According to Santiment analysts, due to its low performance compared to other major market cap altcoins, the cryptocurrency community has started to harbor strong negative feelings towards the world's second largest cryptocurrency. Analysts predict that when the cryptocurrency market starts to stabilize, there may be surprise spikes in ETH price, considering the increasing FUD and the trend of individual investors selling their coins.
At the time of writing, the world's largest altcoin is trading at $2,622.