The Ethereum market sentiment index has reached its highest level since March 2023
According to Forbes, market optimism for Ethereum climbed to a 14-month high yesterday. According to data from cryptocurrency analysis provider The Tie, the long-term sentiment index of Ethereum is calculated by comparing the positivity of posts on X (formerly known as Twitter) within the past 50 days and the past 200 days. On June 3rd, this index reached 66.69, which is the highest level since March 24th, 2023. Any score above 50 indicates more recent market optimism.
In addition, according to CoinMarketCap data, Ethereum's price experienced mild fluctuations yesterday and remained between $3700 and $3900. On May 20th, Ethereum's price quickly rose from below $3100 to nearly $3700; in subsequent weeks volatility of this digital currency has been maintained at a lower level.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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