Summary
- It was reported that "Ethereum prices are approaching the lows from the past FTX bankruptcy."
- It was stated that "Ethereum has fallen by more than 50% since January, showing weak investment sentiment."
- It was explained that "on-chain activity and fundamentals have weakened, leading to stagnant demand and negative investment sentiment."
An analysis has emerged that Ethereum (ETH) prices are approaching the lows seen during the 2022 bankruptcy of the cryptocurrency exchange FTX.
On the 31st (local time), Matrixport stated through X, "Ethereum has fallen by about 50% since recording $3,668 on January 7," adding, "Ethereum investment sentiment is weakening, and it is approaching the price lows recorded during the FTX bankruptcy." Furthermore, "Ethereum's on-chain activity has significantly slowed, and its fundamentals appear weak," explaining that "demand is also stagnant, making investment sentiment towards Ethereum clearly negative."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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