📉 ETH, Ethereum's native currency, closed August down more than 21%, marking its worst performance since 2022.
📊The asset's poor performance was driven by several factors, including the poor performance of ETH ETFs in the United States, which accumulated outflows of more than $477 million since their launch.
🔍Activity in Layer 2 solutions on Ethereum, designed to reduce costs and improve efficiency, also contributed to low buying pressure on ETH, as fewer users need the asset to pay gas fees.
Get informed with the full note 👈🏼
Do you think Ethereum can recover after its worst month since 2022?
🔥 = Yes, Layer 2 solutions will drive its recovery. 😁 = No, selling pressure will continue to affect. 👏🏻 = It will depend on the improvement in the performance of the ETFs.
