Ethereum
Why Ethereum is down 1.2% in the last hour
Analysis
Ethereum (ETH) slipped 1.2% over the past hour as traders reacted to reports highlighting a continued ETH price decline despite steady underlying network activity, suggesting sentiment-driven selling even while usage metrics hold up. CoinDesk noted builders were “shrugging off” the drop because network activity remains steady, while AMBCrypto pointed to Bitmine’s ongoing accumulation of 41,788 ETH—news that may not have been enough to offset near-term downside pressure.
Contributing Factors (2)
Ethereum builders shrug off ETH decline as network activity holds steady
By several measures, activity on the network remains near peak levels, which has industry leaders plussed about the plunge in ether's price.
Bitmine ‘steadily’ adds 41,788 ETH – Can Ethereum rebound after $10.7B bet?
Why is BitMine buying more Ethereum while sitting on billions in paper losses?
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.