Heena Kousar
New member
Ethereum, the second largest crypto by market cap has lost its crucial level of $1,300 amidst the bear movement. After Bitcoin attained some bullish trend, the currency dropped taking other major cryptocurrency such as Ethereum, Cardano, Solana, and others along with it. Not only Ethereum price, but also the currency's daily active address has seen its fall in the past four months. As mentioned in the Coinpedia's article following the Santiment reoprts, the network's daily active address has dropped to 152,000 as of October 21, it is the lowest level since June.
This fall coincides with Ethereum losing above 80% from its November 2021 high of $4,850, indicating that either ETH users are moving out of the market or have just taken a break from Ethereum. At the same time, the Santiment analysts are blaming these traders as non-supportive who have chosen to move out while Ethereum is facing a bear market. Coinpedia also talks about the kind of disinterest among traders can also be seen in terms of Ethereum-based investment funds as the outflow is $3.9M. This data was confirmed by CoinShares recent weekly report which also states that on a year-to-date the outflow has hit $368.70M.
This fall coincides with Ethereum losing above 80% from its November 2021 high of $4,850, indicating that either ETH users are moving out of the market or have just taken a break from Ethereum. At the same time, the Santiment analysts are blaming these traders as non-supportive who have chosen to move out while Ethereum is facing a bear market. Coinpedia also talks about the kind of disinterest among traders can also be seen in terms of Ethereum-based investment funds as the outflow is $3.9M. This data was confirmed by CoinShares recent weekly report which also states that on a year-to-date the outflow has hit $368.70M.
