Ether (ETH) fell 7.3% from October 1 to October 8, erasing previous gains. The decline mirrored broader trends in the altcoin market, raising doubts among traders about ETH's ability to return to $2,600.
- Investor sentiment is mixed: ETH is down 2% since September 1, while altcoin market cap has risen 4.5%.
- Competition is heating up: Solana, BNB Chain, and other blockchains are gaining momentum.
- Ethereum DEX volumes have fallen from 64% to 22%.
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