Ethereum’s Recent Performance Suggests Possible Market Rebound

Over the past day, Ethereum (ETH) has managed to outperform the general cryptocurrency market, marking a rare occurrence that led to a 12-day high, signaling potential signs of recovery.

According to analytics firm Santiment, Ethereum displayed “mild signs” of a rebound, moving ahead of most altcoins as the week began.

Santiment highlighted that a significant portion of Ethereum’s supply continues to be moved off exchanges, with only 6.38% remaining on platforms. This behavior indicates long-term holding by investors, reducing the likelihood of a sudden sell-off.

The analysts observed that Ethereum has gained renewed attention from the crypto community in February, following a period of underperformance compared to other major cryptocurrencies.

READ MORE:

Charles Hoskinson Details Cardano’s Next Steps

While some, like crypto YouTuber Lark Davis, remain skeptical, the recent price movement has improved the ETH/BTC ratio slightly.

This metric, which compares Ethereum’s value to Bitcoin, has been at multi-year lows but saw a 7% increase on February 17, although it remains close to its weakest levels since December 2020.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.