Ethereum underperforms, its price has declined 2% in the past 24h.
Whale selling intensifies ETH faces market pressure.
Ethereum (ETH), the largest altcoin by market cap, continues to underperform in the crypto market. The cryptocurrency has been in a steady downtrend since falling below $3,400 on June 23. The much-anticipated “Uptober” has also disappointed ETH holders, with the altcoin hitting a monthly low and facing growing selling pressure.
Currently, Ethereum is trading at $2,405.50, marking a 2% decline in the past 24 hours. Despite a slight 1.2% increase in trading volume, the coin’s performance lags behind Bitcoin (BTC). Over the past year, Bitcoin has surged more than 120%, while Ethereum has gained only about 50%.
Meanwhile, ETH’s market dominance has also been dwindling, currently standing at 13.85%, a steep drop from its yearly high of nearly 20%. Several factors are contributing to this decline, including Bitcoin’s rising dominance, which has been b
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