BlockBeats news, on May 17, Coinbase Institutional Research Director David Duong posted on social media, "The statement I wrote down on Thursday night still applies: Last week, the rise of ETH was mainly driven by technical factors, supported by a large number of mismatched positions, short covering, and subsequent re-establishment of positions. This round of increase is actually ETH catching up, following BTC and SOL among its peers.
However, we believe that this price trend does not represent a strong willingness to allocate ETH on a broader market level, and demand still appears to be limited."
