Critical Social Volume Trend Shows Ethereum Could Be in Accumulation


Ethereum’s price has slipped lower over recent weeks as other markets have also slumped. Simultaneously, activity on the blockchain itself has slowed as yield farming opportunities have dried up, with many reaching a point where they became grossly unsustainable. This may not be the end of the world, though, as fundamental and technical trends suggest ETH may soon revert higher. Ethereum Social Volume Plunges as Price Slips Lower Due to a slowdown in ETH’s price action and usage of the cryptocurrency, the volume of Ethereum-related social media posts has slumped. Blockchain analytics firm Santiment reports that as of October 3rd, Ethereum social volume is nearing six-month lows. While this may logically lead some to believe that this means that ETH is primed to move lower, Santiment notes that it may indicate that ETH is about to enter a pivotal accumulation phase. This accumulation phase could precede a move higher as…

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