Ether sentiment hits yearly low but that could be a good thing: Santiment
Douro Labs CEO Mike Cahill tells Cointelegraph that if the crypto markets stabilize, Ether is well-positioned to benefit from renewed liquidity and continued institutional interest.
Social sentiment over Ether has hit a new low for the year as the price underperforms that of other cryptocurrencies; however, this could signal that it’s ready to bounce back, according to Santiment.
Santiment’s social sentiment tracker found that traders’ discussions about Ether on various social media channels like X, Reddit and Telegram are more bearish compared to other major cryptocurrencies, the blockchain data platform said in a March 5 X post.
“For those patiently holding their Ether, the bearishness being projected across social media is a good sign of a potential turnaround once crypto markets stabilize,” Santiment said.
