Ether slips below $2K as ETH holder confidence faces major stress-test
Ether is testing holder conviction with its price dip, with data showing continued selling by smaller holders and steady accumulation by larger investors.
Ethereum’s native token, Ether (ETH), dropped to a year-to-date low of $1,927 on Thursday, and is currently down more than 60% from its all-time high of $4,950.
Analysts said the decline is stress-testing holders’ conviction, and on-chain and crypto exchange inflow data point to the start of a bear market. Despite the selling intensity, one group of Ether holders have been buying, but whether or not this will help ETH reclaim $2,000 is to be determined.
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