The latest Santiment results, published in the two-month newsletter Cointelegraph Consulting, indicate that Ethereum is temporarily “professionalized”.

Following the market crash on September 2, the total market value of all ERC-20 assets exceeded the market value of Ethereum, with the gap continuing to grow in favor of ERC-20 assets. The “volatility” in market value refers to the fact that the Ethereum price corrected more than the ERC-20 ecosystem and fought to return again immediately after.

Perhaps not surprisingly, it was the currencies linked to deFi that bounced back much faster than ETH; According to the DeFi Santiment watch list, the total market value of DeFi-related assets has risen 15.6% in the last week alone. In comparison, Ethereum’s market value has grown by 7.7% during the same period.

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However, Ethereum’s scalability issues may prevent further progress. Ethereum’s average daily commission is $ 5.24; As of early August, the average daily Ethereum fee for 2020 was around $ 0.38. The number of addresses sending or receiving Ethereum daily decreased from 505,440 on 5 August to 312,860 on 14 September, down 38.1%.

In addition, Ethereum’s price increase is difficult because the 365-day MVRV for Ethereum, which – even with the latest correction – is currently 1.44, which indicates that experienced ETH holders are on average + 44% higher. than the original investment. …

It was a historically challenging level for Ethereum, with 365-day MVRV peaking + 43% in May 2018, just before the autumn, and + 48% in February 2020, before the correction. If long-term holders of a currency begin to lose confidence in the short-term movement of the ether price, this has been a familiar area for them to earn something in the past.

Read the full address list here for details with graphics and images.

Source: CoinTelegraph

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