Ethereum: This underestimated asset may be ETH’s savior in the days to come
Ethereum’s [ETH] performance witnessed a pretty sluggish turn recently as the altcoin failed to register any significant price changes. Since the much awaited ETH Merge, the coin’s performance witnessed a severe decline and, at the time of writing, was over 2% lower than 2 October.
Furthermore, a number of developments pointed in the direction of a possible downtrend in the coming days. For instance, Glassnode’s data revealed that the ETH net exchange outflow decreased considerably and fell to a one-month low of 9,509.190 ETH.
This was a massive bear signal as a decrease in exchange outflow usually indicates higher selling pressure. As per data from CoinMarketCap, ETH was trading at $1,292.00 with a market capitalization of $158,349,008,857.
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