A friend stopped loss on long Ethereum yesterday.

Ethereum is really tough!

Is it going to fall like this?!

Ethereum's performance has been persistently sluggish, is the reason the continuous decline of investor confidence?

I feel it's not just a decline, it's a complete collapse! Even ancient whales with costs as low as 0.31 are continuously selling off.

Last week, there was no net inflow for the ETH spot ETF, while BTC had three days of net inflow, showing that investors prefer BTC's safe-haven properties.

And Ethereum? World computer? Right now, it’s all about survival!

Specifically, the net outflow of ETH in week 38 is comparable to that in week 37, with institutions such as Grayscale (ETHE) continuing to sell off, reflecting the market's pessimistic sentiment towards ETH.

ETF outflows indicate that investors are being cautious or taking profits, and ETH lacks buying momentum, in stark contrast to BTC.

Although the Petra upgrade set to launch in 2025 may support ETF staking, ETH still faces structural issues.

The Dencun upgrade in March 2024 aims to enhance revenue through Layer 2, but the decline in on-chain revenue and inflationary pressures have dampened market enthusiasm. Consequently, investors have overlooked the short-term benefits of ETH, turning instead to the stronger market narrative of BTC, leading to the continued underperformance of ETH.

Now, just hold tight $BTC