Santiment: Ethereum has fallen 36% from its local high, and if the market stabilizes, it may experience an unexpected rebound

ChainCatcher reports that according to the chart report released by cryptocurrency market research institution Santiment, Ethereum's market value has fallen 36% from its local high point seven weeks ago, leading to a sharp decrease in the number of profitable ETH. According to daily closing data, the current ETH profit ratio is at a four-month low and the number of profitable tokens has also dropped to a three-month low.

As the second largest cryptocurrency by market cap, Ethereum's performance is inferior to other major currencies and market sentiment has significantly turned negative. Despite current widespread fear, uncertainty and doubt (FUD) and continuous selling by retail investors, once the crypto market stabilizes, Ethereum may experience an unexpected rebound.