Despite the arrival of $ 500 million in the spot atherium ETF, the second largest crypto by the market cap continues to struggle with a slight price movement.
The price of Ethereum’s (Eth) is still stuck, even with spot exchange-traded fund investments. TellA decentralized finance group associated with President Donald Trump, pointing to an increase in ETH procurement by members of World Financial Liberty.
As the Crypto.NuS mentioned earlier, the World Liberty Financial has planned to create a “strategic reserve” with Altcoin, which they have bought, although the exact objective of the reserve is still not clear.
Even taking more atherium with WFL, the market spirit is ahead of the pectra upgrade of the atherium, which is ready to launch on Holesky and Sepolia testnets in February and March, with Mennet in April. Contrary to previous upgrades, expectations for a significant value movement are low, analysts paid attention.
“Without a clear rapid catalyst, the prices of Eth can continue to struggle, and the market dominance of the Ethereum has already fallen to only 10%.”
Matrixport
The broad altcoin market, including DOGECOIN (DOGE), XRP (XRP), and Solana (SOL), has also faced pressure downwards. As Crypto.news had previously reported, fear and greed index fell to 35, its lowest level since October 2024 indicates growing fear in the market. Historically, a frightened market causes a fall in cryptocurrency prices.
The Altcoin season index has also fallen to 33, below 47 at the beginning of the year, suggests weak demand of altcoins compared to bitcoin (BTC). While bitcoin remains relatively stable, the decline in ultcoin index signals is that investors are in favor of bitcoin on other cryptocurrency.
