4 reasons why I'm worried about Ethereum's latest rally
Quick takeaways:
- Despite a strong start to the week, ETH's on-chain and social activity are starting to flash a number of concerning that could interfere with the coin's rally
- Assets covered: ETH
- Metrics used: Social volume, Social sentiment, Exchange inflow, Percent of ETH on exchanges, Age consumed, Mean dollar invested age, ETH miner balance, ETH holder distribution, ETH's 30d and 365d MVRV
After trading sideways for almost two months straight, Ethereum finally managed to break above its stubborn consolidation pattern, gaining +31.3% in the past 5 days and hovering at a year-high $321.8 at the time of writing.
The rally has felt long overdue for the second largest coin given the swarm of DeFi-related pumps and has even surprised BTC at first, reducing the top coin’s market dominance to its lowest point since
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