any ethereum [ETH] Traders can expect from Q4

Ethereum has been in the midst of debate on social media following the release of Merge last week. However, not everything went according to plan as ETH price dropped below $1350.

In fact, Ether’s weekly losses have now exceeded 17%, according to CoinMarketCap. But an anonymous crypto enthusiast (@cryptoguchi) believes all hope is not lost on Ethereum in a recent tweet thread.

Back on the right track soon?

The analyst raises the debate about the auditors of Ethereum, which increased by more than 11.36K in September alone.

Ethereum now has over 429.6 thousand active validators on the network. This late rise in online endorsements indicates a growing increase in investor confidence from the technical point of view of the merger.

Source: Glassnode

With that being said, NFT market leader OpenSea has now expanded its support to Arbitrum. open sea most dangerous This news in a tweet yesterday (September 20) claims that users will now be able to buy and sell NFT on an Ethereum Layer 2 solution.

NFTs will start trading on Arbitrum starting from September 21st without any delay.

but but but

Despite these bits of optimism, the situation for Ethereum and the cryptocurrency market in general remains bleak. Leading crypto assets like BTC and ETH are still struggling in the market.

At press time, Bitcoin is trading at just under $19,000 while ETH is available at around $1,330. Both symbols have declined in the past 24 hours and are still affected by macro factors.

The situation is similar for Ethereum traders in light of the drop in prices. Ethereum’s MVRV is now down to -13.6% as profitability has fallen sharply in the past week.

This process was exacerbated by a major sell-off after the merger event. Trader sentiment remains a critical cog for any near-term recovery in the asset, which remains in tatters for the time being.

Source: feeling

Here is another volatility aspect observed on Ethereum today (September 21st). According to the blockchain analytics platform glass knotThe average Ethereum transaction volume has dropped to an all-time low of 0.032 ETH.

This is a clear reflection of the deteriorating state of trader sentiment on Ethereum at the moment as many are looking to reduce their exposure to ETH.

Source: Glassnode

Another worrying factor for Ethereum is the growing negative sentiment from the crypto community. According to the data below, we can see how FUD is stabilizing into the crowd despite the “highly anticipated” consolidation event. It appears that Ethereum is planning to finish the third quarter similar to the previous one.

Source: feeling

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