Ethereum: What these metrics say about the good ol’ days
This past week, indications on price charts showed that altcoins’ performances toed the same line as BTC. Most altcoins recorded a significant decline in price. Although Ethereum recorded a day-high of $3,200 on Wednesday, the holders of Ethereum did not seem to have a good week. Especially since the altcoin was stuck within the $3,087 – $3,003 price range over the last few days.
Will a look at the on-chain performance of the crypto provide investors with a glimmer of hope?
On-chain readings revealed that the trading volume for Ethereum stood at $8.48B, at the time of press. This represented an over 54% decline from figures of $18.62B recorded at the beginning of the week.
Source: Santiment
With the much-anticipated ETH Merge postponed without a date in sight, the Development Activity for the second-largest cryptocurrency registered a massive decline. In fact, following confirmation on 12 April that the Merge had been postponed, Development Activity took a major hit.
<p lang=«en» dir=«ltr» xml:lang=«en»>It won't be June, but likely in the few months after. No firm date yet, but we're definitely in the final chapter of PoW on Ethereum— Tim Beiko | timbeiko.eth
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