Ethereum: Buy the Dip?
Almost exactly one year since it pulled off The Merge, Ethereum (CRYPTO: ETH) seems to be falling out of favor with crypto investors. After a fast start to the year, Ethereum is now down 10% over the past 30 days and more than 20% from its mid-April highs. Moreover, some investors are warning that Ethereum could have further to fall before it recovers to the $2,000 price level.
For investors thinking about "buying the dip" on Ethereum, there are two major points of concern to consider. Let's take a closer look.
First and most importantly, there has been a significant decline in transaction volume and overall activity taking place directly on the Ethereum blockchain. For example, transaction volume recently hit a nine-month low, while daily transaction fees recently hit an eight-month low. The growing consensus seems to be that users have lost interest in the Ethereum blockchain, and that they may be moving elsewhere.
Source Fool.com
