At the start of the week, after Bitcoin attained some bullish trend, the currency slipped dragging other major cryptocurrencies like Ethereum, Cardano, Solana among others. Ethereum, the second largest crypto by market cap, lost its crucial level of $1,300 amidst this bear movement.
Currently, Ethereum is valued at $1,278 followed by a drop of 1.61% over the last 24hrs.
It’s just not Ethereum price, even the currency’s daily active address (DAA) has seen its fall in the last four months. As per Santiment reports, Ethereum’s daily active address has dropped to 152,000 as of Oct 21 which is the lowest level since June.
This drop coincides with Ethereum losing more than 80% from its November 2021 high of $4,850. This indicates that either Ethereum users are moving out of the market or have just taken a break from ETH.
Meanwhile, the Santiment analysts are blaming these traders as weak hands who have decided to move out while Ethereum is facing a bear market.
A fost util acest scris?
Source: https://coinpedia.org/ethereum/ethereum-price-to-crash-40-if-the-current-trade-continues-here-is-why/