Ethereum has seen a positive funding rate and bullish trend despite recent price declines. The weighted sentiment for Ethereum declined after news of the spot ETF approval subsided, but other metrics suggest a positive run once spot trading resumes. The sentiment and social volume for Ethereum have declined, with negative sentiment now outweighing positive sentiment.
Despite the weak sentiment, new addresses for Ethereum continue to increase, with over 105,000 new addresses created. The trend of new addresses is on the rise, indicating continued interest in Ethereum even before spot trading begins. The derivative side of Ethereum remains positive, with a positive funding rate suggesting a belief in a future price increase.
As of the latest update, Ethereum is trading at around $3,690 with a 0.4% increase. The daily time frame price trend shows slight increases over the last two days after a 3% decline on June 7. Overall, Ethereum’s metrics point towards a positive outlook despite recent fluctuations in price. Investors may be optimistic about the future potential of Ethereum as trading resumes.
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