Author Topic: Ether drops below $3,800 but no short from traders (Read 467 times)

TomPluz · « **on:** January 02, 2022, 06:19:48 AM »

Ethereum network saw a nine-fold increase in its smart contract deposits, but a descending channel continues to pressure the price.

Even though Ether (ETH) reached a $4,870 all-time high on Nov. 10, bulls have little reason to celebrate. The 290% gains year-to-date have been overshadowed by Dec.'s 18% price drop. Still, Ethereum's network value locked in smart contracts (TVL) increased nine-fold to $155 billion.

More here: https://cointelegraph.com/news/ether-drops-below-3-800-but-traders-are-unwilling-to-short-at-current-levels

Ethereum has proven its strong resiliency in the past and this temporary downpour will easily be forgotten in the next coming days when the excitement will be returning to the network. Though I hate the gas fees in the Eth network, there is no question that it remains the very king of smart contracts and will not easily be dislodged as the number two man to Bitcoin.

Altcoins Talks - Cryptocurrency Forum · « **on:** January 02, 2022, 06:19:48 AM »

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brijmohan · « **Reply #1 on:** January 02, 2022, 09:25:08 AM »

I am also very bullish on ethereum and it can touch its new life time high very shortly. No one can afford to short at this point.

cheezcarls · « **Reply #2 on:** January 02, 2022, 01:57:03 PM »

I don’t mind about ETH’s price right now because I am so bullish about it. I’ve never sold mine since the day I bought it around early 2020 when it’s just almost $200. So usually I’m on an 18x gain, and I’m not planning to sell because this is one of the best long-term coins ever to hold due to the massive adoption of developing and using Dapps under the network along with the upcoming ETH 2.0.

codehash · « **Reply #3 on:** January 02, 2022, 11:20:27 PM »

Ethereum has revolutionized. No one can pass it. Revolutions are only followed. Ethereum will not lose its throne to anyone. Because all blockchain developers follow Ethereum. Ethereum will continue to rise.