“It doesn’t look good” – Jay Turner for the Metal Currency Office issues a warning from Ethereum where ETH faces great challenges
The Guy Turner in Coin’s office turns into ETHEREUM (ETH) as the second largest encryption asset that hovers about 58 % less than the high price at the November 2021.
In a new video, Turner Recount 2.66 million subscribers to the YouTube Mineral Currency Channel channel that ETHEREUM has reduced Bitcoin (BTC) over the past two months, although expectations that ETH will follow the leading Asset leadership in Crypto Asset.
“Ethereum’s performance was so weak that it became MIS while BTC gathered to the highest level ever …
ETH did not recover after a height of 2021 at about $ 4900. In fact, Ethereum is one of the only main trokegar towers that did not face any price movements to be excited. During this course, he struggled with the price of ETH to break the highest level of resistance of $ 4,000, which is much lower than its previous height ever …
You just have to take a look at the price of ETH against BTC to see that Ethereum has been bleeding against Bitcoin since September 2022, without any signs. Everyone, then, does not look good, brother. “
ETHEREUM is traded at $ 2066 at the time of this report.
According to Turner, competition inside and outside the ecosystem is one of the reasons why Ethereum is weak.
“In the eyes of many, the biggest thing that hurts the price of ETH is the huge number of layer 2 in the ethereum ecosystem …
… many believe that the liquidity fragmentation is the biggest reason that the price of ETH has been poorly performed. It can be said that layer 2 has stolen some of the investment capitalist mind …
… another challenge to Ethereum – this is the increasing competition from these killers mentioned above. For anyone who is unaware, these are groups of smart contracts that threaten the dominance of Ethereum by presenting an alternative to Ethereum. Now, some of the most prominent dead of Ethereum Cap include Solana, BNB Chain, Aptos, Avalanche and SUI, among many others. “
Turner also says that the total economic scene negatively affects the price of Ethereum.
“Another major challenge comes from the total environment, especially high interest rates. This is because high interest rates are reflected in government bonds, which are popular among institutional investors …
… the return on US government bonds is 4.28 %. Meanwhile, Eth Staking offers only 3 % return. This means that institutional investors who like to gain a fixed return tend to stick to government bonds as a result. “
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