Ethereum Paints 11 Negative Trading Weeks in Row - BitcoinEthereumNews.com
अरमान शिरीनयान Ethereums performance was far from ideal as cryptocurrency loses 70% of its value The correction on the cryptocurrency market has placed billions of हानि on investors shoulders, as the market has not been able to recover after a massive $300 billion sell-off that fueled Ethereum के 11-week loss streak. Since April 2022, which became the starting point of a massive downtrend, Ethereum has lost almost 70% of its value, making it one of the worst performing assets on the market. Such a large plunge of Ethers value is tied to the volatile nature of cryptocurrencies. स्रोत: Tradingview The massive drop was also aggravated by issues with Beacon Chain and the massive volume of liquidations on the lending and borrowing market. With the catastrophe on the DeFi market, Ethereum has lost a major portion of funds inflows and revenue. The “death of DeFi” was called after the series of तरलीकरण that companies like 3AC, Celcius and others faced after Ether‘s plunge below $1,150. Because of having a massive non-collateralized debt, companies had no funds to defend their positions and had no other choice but to face complete liquidations, losing millions—if not billions—of users’ funds. The decoupling of stETH with regular ETH was another low-blow for Ethereum