) price nosedived below $1,100 in the early hours of June 14 to prices not seen since January 2021. The downside move marks a 78% correction since the $4,870 all-time high on Nov. 10, 2021.
peak when Ethereum's total value locked catapulted to $93 billion from $42 billion two months earlier.Before jumping to conclusions, a broader set of data is needed to understand what led to the 31% correction in the ETH/BTC price in 2021. Looking at the number of active addresses is a good place to start.Data shows steady growth in active addresses, which increased from 595,620 in mid-March to 857,520 in mid-May.
One might still think that despite a relatively flat number of users, the Ethereum network had been growing by presenting a higher TVL.Data shows that on May 10, 2022, the Ethereum network TVL held $87 billion in deposits, down from $102 billion a month prior. Therefore, there is no correlation between the mid-2021 cool-off after"DeFi summer" and the current 33% Ether price downturn versus BTC.
noshitcoins I think it will go lower. So keep your usdt readyt o buy it lower.
noshitcoins Glad I sawpped it for usdt a while ago, I definitely feel less stressed when I hold only btc
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheBlock__ - 🏆 464. / 53 Read more »
Source: BTCTN - 🏆 531. / 51 Read more »
Source: Cointelegraph - 🏆 562. / 51 Read more »
In this together: Musk and Saylor down a combined $1.5B on Bitcoin buys⬆ +11 In this together: Musk and Saylor down a combined $1.5B on Bitcoin buys $BTC bitcoin cryptocurrency
Source: CryptoPanicCom - 🏆 563. / 51 Read more »