China’s blockchain analyst Santiment says Ethereum’s inflow of digital currency exchanges is on the rise, and short-term traders appear to be selling their assets.
to the Report Daily Hoodel, Centiment, said short-term traders are exiting the Ethereum market, looking for alternatives that are more profitable than this digital currency.
China’s blockchain analyst said the increase in Ethereum’s inflows into digital currency exchanges shows that investors are affected by the collapse of the digital currency market and other negative news around the world and are selling their assets.
If we want to follow the upward trend of the market, this is the outlook [چندان] It does not look good, however most recent price movements are related to major events. [نظیر] The fall in the value of Evergrande stocks has been the decisions of the US Stock Exchange Commission on digital currencies and the like.
Yesterday, the price of Ethereum fell from $ 3,150 to close to $ 2,700 and has now reached $ 2,900.
Centiment says Ethereum network growth had stalled for several months before falling prices. The company cites the growth of first-tier networks such as Avalanche, Phantom and Cosmos, as well as declining NFT market volume as the main reasons for the downturn in the Ethereum network.
If there are better trading opportunities that are cheaper and more profitable, people will invest in them. Ethereum does not have such conditions now.
The Blockchain Analysis Company added:
Ethereum conflicts will continue as traders [کوتاهمدت] To make more profit, they go to the first tier networks and finally with the increase of the recession in the network [بازار اتریوم] Will leave.