Ethereum Miners Have Been Dumping ETH

Summary:

Ethereum miners have been selling their ETHEthereum’s Twitter sentiment is in bearish territoryETH/BTC pair shows a weakening EthereumThe daily ETH/USDT hints of a drop by Etheruem

Ethereum miners have been selling their ETH in the month of October. This is according to on-chain data courtesy of the team at Santiment feed. The data also provides information that Ethereum that has been dormant in wallets, has been on the move in the past three months.

Additionally, Ethereum’s Twitter sentiment is in bearish territory after ETH dropped below $400. Ethereum’s trade volume on Decentralized exchanges has also declined pointing towards reduced DeFi activity on the Ethereum blockchain.

The above information paints a bearish future for Ethereum and was shared via the following Tweet by the team at Santiment.

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