Ethereum has perhaps taken the largest hit of all the large-cap altcoins in February, with its value dropping by more than 36% over the past month. The second-largest cryptocurrency deepened its woes over the past week, struggling to keep its price above the $2,000 level.
On Friday, February 27th, the price of Ethereum fell by more than 5%, falling to just above the $1,900 mark. Interestingly, a recent on-chain evaluation shows the potential reason behind the altcoin’s latest struggles below $2,000.
ETH Taker Volume Sees Steady Rise On Friday
In a February 27th post on the social media platform, crypto pundit Maartunn revealed the source of the recent bearish pressure witnessed by the Ethereum price. The relevant on-chain indicator here is the Taker Sell Volume, which saw steady spikes across all exchanges throughout Friday.
For context, the Taker Sell Volume metric measures the total volume of sell orders filled by takers (market participants who match existing orders c
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