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    WebsCrypto—News—Ethereum News—Ark Invest Analyst: Crypto Market Is Returning to Risk-on Environment, Etheruem May Gather More Bullish Momentum
    Ethereum News

    Ark Invest Analyst: Crypto Market Is Returning to Risk-on Environment, Etheruem May Gather More Bullish Momentum

    By WebsCryptoAugust 29, 2022
    Ark Invest Analyst: Crypto Market Is Returning to Risk-on Environment, Etheruem May Gather More Bullish Momentum
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    According to Frank Downing, an analyst at investment management firm ARK Invest, Ethereum may begin to gather more bullish momentum as the cryptocurrency market pivots back into a risk-oriented environment.

    He pointed out that last month when the market was falling and was in a capitulation cycle, ETH and assets built on ETH sold off very much compared to Bitcoin, not necessarily trading on fundamentals, but the market was completely risky .

    But he said: “It was in late July that I think that started to shift and we saw the market gradually start to trade more on fundamentals on the margins.”

    “We’ve seen the ETH/BTC pair, or ETH outperform relative to Bitcoin, which is different from what we’ve seen in a safe-haven period,” Downing said.

    Related:  Tron Founder's Deposit Boosts Lido Finance's Liquid Staking Protocol Dominance, Locks $9.3B in Ethereum

    As a result, the market has resumed risk-taking on these types of assets.

    DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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