Ethereum (ETH) has exhibited a relatively low price performance compared to other high market cap cryptocurrencies, including the leading cryptocurrency Bitcoin (BTC), this week. ETH, which surpassed $2,000 last week, has lost over 5% in the past week, dropping below $1,900 and t...
ETH Falls Below $1,900
On the other hand, Ethereum (ETH) exhibited a relatively low price performance compared to most high market cap cryptocurrencies during this period. Although it surpassed $2,000 levels last week, ETH has recently accelerated its losses and dropped below $1,900.
Calm Before the Storm in Ethereum
ETH, which has lost over 5% in the past week according to CoinMarketCap (CMC) data, dropped below $1,900 and started trading at around $1,890. As the loss in value in ETH accelerated, Santiment, a cryptocurrency analysis platform, evaluated the current situation in Ethereum and shared current data and metrics.
Santiment, evaluating the recent situation in ETH through a new blog post, claimed that while LINK and XRP have been making headlines with significant increases in value in recent times, ETH has exhibited a relatively low price performance during this period. However, Santiment argued that the current metrics paint a positive picture for ETH.
Santiment stated that the current data and metrics indicate that ETH may surpass $2,000 levels again in August and pointed out critical metrics. According to Santiment, the decrease in ETH supply on cryptocurrency exchanges indicates a low possibility of large-scale ETH sales in the near future.