The reasons for the fall of Ethereum in the next month.
Latest Crypto News. Fundamental and technical factors related to Ethereum indicate that the currency may depreciate in the coming weeks. As reported by cointelegraph, Ethereum has lost more than half of its dollar value in 2022. Additionally the currency has depreciated against Bitcoin and is currently still below the $2,000 range for various reasons.
According to numerous reports, investors in the digital currency market withdrew about $ 250 million from Ethereum -based investment funds in 2022. In contrast, Solana and Cardano raised $ 104 million and $ 9 million, respectively. The capital Withdrawal from Ethereum -based funds shows that Luna and UST Terra Ecosystem Tokens have dampened investor interest in decentralized finance. According to Ilan Solot, macroeconomic risks related to the monetary policy of the US Federal Reserve dampen the Ethereum trend in June.
He told the Financial Times:
If the Federal Reserve is tightening, the world is in recession, and people need to pay $4.5 per gallon of gas, they’ll have less to invest in DeFi or spend on blockchain games.”
Source: cointelegraph
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