Citi: ETH has fallen more than 20% year-to-date, but fundamentals are improving
According to a recent report by Citibank, the price of Ethereum (ETH) has fallen by more than 20% this year, but its fundamentals are improving. The total value locked (TVL) on the Ethereum network has risen significantly, and Ethereum ETFs continue to attract funds, with a cumulative inflow of $3.2 billion since their launch in July. In addition, related search volume is also increasing.
Despite recent fluctuations in user activity, Citibank analysts say that Ethereum's fundamentals are not entirely pessimistic. The report also mentions that World Liberty Financial, owned by former US President Trump, holds over $200 million worth of Ethereum, which could be seen as additional motivation for the US to strengthen its support for the cryptocurrency industry. At the same time, Ethereum's weak performance coincides with the rise in Bitcoin dominance, which has now reached a multi-year high of over 60%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump Backs Crypto at Summit with Bold Plans
Trump reveals crypto reserve strategy, stablecoin regulation, and U.S. leadership goals at crypto summit.Clear Rules Ahead: Stablecoin Regulation FrameworkMaking the U.S. the Global Crypto Capital
Bitnomial Launches First XRP Futures Contracts in US
Bitnomial introduces the first CFTC-approved XRP futures in the US, offering physically settled contracts to crypto traders.What This Means for Crypto TradersGrowing Regulatory Confidence in XRP
TRX Tokens Now Live on Solana Blockchain
TRX officially launches on Solana, offering faster, cheaper transactions for users and new opportunities for cross-chain DeFi.TRX Launches on Solana NetworkWhat This Means for TRX UsersThe Future of Cross-Chain TRX Usage
Canary files for PENGU ETF
Trending news
MoreCrypto prices
More
