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Santiment: When the Market Recovers, Ethereum Price Will Rise the Most! - Coin Bulletin
**Analysts predict that the renewed interest in Ethereum, which has (ETH), will have an impact on the price as the cryptocurrency market begins to recover.
According to the Santiment analysis, Ethereum, which underperformed its major market competitors in 2024, saw a renewed interest from investors as of February.
Although Ethereum took a hit from the subsequent decline yesterday, it rose to $2,850, showing better performance compared to the cryptocurrency market and reaching its highest level in 12 days. According to Santiment, although the price retreated, this situation revealed that Ethereum started to show "moderate recovery signs"
Santiment noted that Ethereum is being withdrawn from exchanges by long-term investors and moved to cold wallets. Currently, only %6.38 of Ethereum supply is on exchanges, marking the lowest level seen since Ethereum was launched.
The withdrawal of crypto assets from centralized exchanges generally indicates that investors are not considering selling and are following a long-term holding strategy. Santiment analysts emphasized that this situation reduces the likelihood of a major sell-off, but it is an indicator based on long-term evaluations, not short-term price fluctuations.
Santiment analysts noted that Ethereum has a stronger upside potential when there is a recovery across the market.
According to CoinGecko data, Ethereum is currently trading around $2,669 at the time of the news.