The top trader Eugene Ng Ah Sio said on social media on August 23rd that during the entire Bull market cycle, ETH's performance was not as good as SOL and BTC. Pessimists believe that the lack of a retail-friendly architecture and selling points is the key reason for ETH's underperformance. Although this is largely true, the market does not always move in one direction. It believes that the most important factor is still the current position of the ETH market. For several months, ETH has been the favored asset in the cryptocurrency field, especially when ETH ETF was announced. However, since the launch of the ETF, the inflow of funds has been disappointing, which has led to only buyers of ETHE, the arbitrage position, becoming the ultimate winners. Most of the positions that were bullish on the future market have been washed out in the volatility of coin prices. Currently, the ETH market is facing extreme negative sentiment and large-scale surrender by OG Whales. This means that the current positioning of ETH may be at its lowest point ever. In addition, Eugene believes that the weakness of competitor SOL is another reason. SOL's unique selling point lies in the prosperity of Meme coins, which is now being challenged. Two other ecosystems have launched Pumpfun imitations, and some popular Meme coins have emerged. In addition, SOL ETF is not expected to appear for a while, which raises doubts about the market having a large number of SOL Long positions. Although these factors may not be enough to trigger a significant pump in ETH, sometimes it only takes a 'last-minute push' to trigger a bigger market. Only time will tell whether it is too early to draw these conclusions or whether this is the beginning of a long-term structural bullish transformation. But if this is the case, it will no longer be possible to buy ETH at today's prices.
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Nhà giao dịch hàng đầu Eugene: Giá ETH có thể đang ở mức thấp lịch sử, khó có thể mua lại với giá hiện tại nếu thị trường tăng mạnh sau này.
The top trader Eugene Ng Ah Sio said on social media on August 23rd that during the entire Bull market cycle, ETH's performance was not as good as SOL and BTC. Pessimists believe that the lack of a retail-friendly architecture and selling points is the key reason for ETH's underperformance. Although this is largely true, the market does not always move in one direction. It believes that the most important factor is still the current position of the ETH market. For several months, ETH has been the favored asset in the cryptocurrency field, especially when ETH ETF was announced. However, since the launch of the ETF, the inflow of funds has been disappointing, which has led to only buyers of ETHE, the arbitrage position, becoming the ultimate winners. Most of the positions that were bullish on the future market have been washed out in the volatility of coin prices. Currently, the ETH market is facing extreme negative sentiment and large-scale surrender by OG Whales. This means that the current positioning of ETH may be at its lowest point ever. In addition, Eugene believes that the weakness of competitor SOL is another reason. SOL's unique selling point lies in the prosperity of Meme coins, which is now being challenged. Two other ecosystems have launched Pumpfun imitations, and some popular Meme coins have emerged. In addition, SOL ETF is not expected to appear for a while, which raises doubts about the market having a large number of SOL Long positions. Although these factors may not be enough to trigger a significant pump in ETH, sometimes it only takes a 'last-minute push' to trigger a bigger market. Only time will tell whether it is too early to draw these conclusions or whether this is the beginning of a long-term structural bullish transformation. But if this is the case, it will no longer be possible to buy ETH at today's prices.