ETH gained considerable popularity on February 3 and struggled to maintain more than $ 2,800. Ether has fallen 24.5% over the last 30 days, while the larger market cap has decreased by 10% over the same period. This achievement disappointed investors, and some questioned whether ETH had enough momentum to return to the strong territory.
Eth Future Markets now shows the lowest optimism among professional traders for a month. This development raised concerns about whether ether could soon recover to $ 3,400.
A long ratio of ETH TOP Traders. Source: COINGLASS
The higher ratio of long distance is generally the preference for long (purchase) positions, and the lower ratio indicates that the trader prefers a short (sales) contract. Currently, Binance’s top ETH trader reports a 3.3 -fold long -term ratio, much lower than the previous two weeks average 4.4 times. In OKX, the ratio is 1.2 times compared to an average of 2.2 times the two weeks.
Some of Ether’s recent achievements may have been fierce competition. But it also contributed to Ether Lee’s monetary policy and continuous dispute over scalability.
According to the “Ultrasound Don” website over the last 30 days, Ether’s supply has increased to 0.5%per year. This trend is reflected in the less demand for blockchain spaces and is led by the adoption of Layer-2 scaling solutions.
The Ettherrium Foundation is faced with strong criticisms of restricted participation in many major ecosystems. Some older developers have expressed their complaints openly and urged Vitalik Buterin, the co -founder of Ether Leeum, on January 21 to claim the only authority for the Etherrium Foundation.
Positive speaking, it is introduced into the ETF (ETF) of the World Liberty Financial Funds, a project that is closely related to the SPOT ETHER EXCHANGE trading fund (ETF) and the recent Donald Trump. Since January 30, the US SPOT ETHER ETF has seen the net inflow of $ 440 million.
According to the data from Arkham Intelligence, on January 31, World Liberty Financial, a token digital asset project supported by the Trump family, earned $ 10 million from ether. The company’s stake has reached 66,239 ETHs, worth $ 180 million as of February 5, with the largest position than the packaged Bitcoin (WBTC) and other Altcoin.
The ether derivative premium dropped to 7%after the demand for leverage.
In order to determine whether whales and market manufacturers have weakened in ethers, analysts should investigate the ETF monthly futures market. The contract is generally traded at 5% to 10% premium compared to the spot market to explain the longer agreement period.
Etter 2 months gift annual premium. Source: LAevitas.ch
The ether derivative market strengthens this feeling as the premium drops from 10%to 7%on February 2. It is still within the neutral range, but there is little demand for long positions among professional traders. More particularly, the ETH futures premium exceeded the 5% critical price of the weak market during the February 3 conflict.
relevant: ‘Altseason’ ended in 2024. Bitcoin dominance must be 71%before it returns.
The clear evidence of the ETH derivative market is no clear evidence that whales have weakened or abandoned hope. Meanwhile, as the competition between Solana and Hyperliquid increased, investors have re -evaluated Ether’s rising potential. In addition, investors seem to be hesitant to add strength ahead of the upgrading ‘PECTRA’ upgrade, given that the average advantage is not clear for the average user.
Ultimately, the current price of $ 2,800 seems to provide a reasonable entry point considering Ethereum’s total value lock (tvL) and institutional demand. Whether or not you can recover $ 3,400 depends on the clear benefits of ETH stations and long -term investors.
This article is for general information purposes and should not be considered legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.