Matrixport: The market generally believes that the Ethereum upgrade in March is unlikely to drive a major trend
Matrixport released a chart today stating that since late January, Ethereum spot ETFs have accumulated $500 million in funds, but the price of ETH has not significantly rebounded. This indicates that although the increase brought about by the Trump election in November has basically been retched up, there is still strong selling pressure in the market.
However, long-term value investors seem to be warming up, and even members of the "World Financial Freedom" organization have expressed interest in ETH.
Looking forward to the future market, Ethereum's network upgrade in March may become a potential catalyst, but the market reaction is relatively cold compared to previous upgrades. At present, it is generally believed that this upgrade will hardly lead to a big trend. In absence of clear benefits ,the price of ETH may continue under pressure and Ethereum's market share has dropped to 10%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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