According to COINOTAG News on February 8th, cryptocurrency analytics firm Santiment has released alarming data regarding Ethereum’s recent market performance. The analysis reveals that Ethereum’s market capitalization has seen a staggering 36% decline since its recent peak eight weeks ago. Consequently, the proportion of profitable ETH holdings has plummeted, marking a four-month nadir in the ETH profit ratio. Additionally, the total number of investors realizing profits has dipped to a three-month low, indicating a broader trend of market underperformance among large-cap cryptocurrencies. Notably, sentiment surrounding Ethereum has shifted markedly negative, driven by prevalent factors such as fear, uncertainty, and doubt (FUD). Despite the ongoing retail sell-off, industry experts suggest that Ethereum could be poised for a potential recovery once the overall cryptocurrency market finds its footing.
Source: https://en.coinotag.com/breakingnews/ethereum-faces-36-market-cap-drop-profitability-hits-4-month-low-amidst-market-uncertainty/