ETH Struggles Despite 36% Surge in DApps Volume, Investor Sentiment Remains Cautious
Ethereum (ETH) has seen a modest rebound, gaining 7.5% after dipping to $2,396 on August 27.
Ethereum (ETH) has seen a modest rebound, gaining 7.5% after dipping to $2,396 on August 27. However, it has retraced most of the gains and is down 0.44% over the past 24 hours, reflecting ongoing investor unease. Despite increased activity on the Ethereum network, ETH’s price remains far below the $3,800 levels it reached in early June.
One factor contributing to ETH's underperformance is the lack of demand for spot Ethereum exchange-traded funds (ETFs). The altcoin market as a whole has shrunk by 13% over the past month, with ETH trailing behind many of its peers. This decline can be partly attributed to the unmet expectations surrounding the anticipated launch of a spot ETF in the U.S. on July 24. ETH was trading at $3,200 as recently as April 24, but the hype around the ETF failed to sustain the price
