Social feelings on the ether reached the lowest new level for this year, as the price was less than the price of other encrypted currencies; However, this may indicate that it is ready for apostasy, according to Santiment.
Santimi’s social feelings follower found that traders’ discussions on the ether on various social media channels such as X, Reddit and Telegram are quieter compared to other major encrypted currencies, and Blockchain data platform He said In the publication of March 5.
“For those who hold the patience of the ether, the drop that is displayed on social media is a good sign of a possible transformation once the encryption markets stabilize,” Santime said.
Ether’s feelings were optimistic during the broader exponential encryption market, but this has since turned into a declining. source: Santim
Ether price (ETH) fell more than 20 % last month, According to To CoinMarketCap, with the second largest handstened currency trading hands of $ 2,176. On the other hand, at Bitcoin (BTC) Decline Only 10 % during the past month, trading for $ 88,000 per currency.
Speaking to Cointelegraph, Mike Cahill, CEO of Douro Labs, a major shareholder in the decentralized data network, PYTH network, while the weak performance in ETHER may lead to a decrease in social feelings, it is important to “separate short -term novels from long -term basics.”
He said: “From a historical point of view, severe landmarks often coincided with the markets of the market, as price movements tend to lead social feelings – not the other way around.”
“If the encryption markets are settled, the ether is in a good position to take advantage of renewable liquidity and the ongoing institutional interest.”
From March to September of last year, feelings were primarily difficult towards ether amid a wider encryption market for encryption, according to Santiment. After September, merchants became more downward, the trend that continued in the new year.
“The performance of the ETHER may be frustrating for investors in the short term, but there is a silver lining: the severe negative often means the bottom of the cycle, and it can be” prepared for great recovery. ”
He said: “Factors such as reducing interest rates or clear organizational developments around Iro in the circulating investment funds can push them up.”
“While the continued purchase by institutional players, including Trump International Financial Freedom, signals are increasing long -term confidence.”
The DEFI global platform supported by the Trump family (WLFI) dramatically increased the ether holdings by 10 million dollars in a period of seven days.
The Santiment follower stores encryption social media channels such as X for the best 10 words that have seen an increase in social media compared to the previous two weeks.
Related to: Have ethereum lost an edge? Experts weigh
Analysts speculate that the ether is struggling because of the weakening of the network activity, the decline in the total closed value (TVL), and investor concerns about the rate of display emissions.
The MVRV Z-Score of ETHER, which is a major measure to assess whether the original distinctive symbol is exaggerated or has been estimated at the foreground, has recently decreased to its lowest level in 17 months.
The last time it was ETHERS MVRV Z-SCORE similar low levels in October 2023, before recovering by approximately 160 %. The result was also preceded in December 2022 and March 2020 preceded the bulls.
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