Ethereum Has a Bullish Case Despite Rising Levels of Bearishness, Says Crypto Analytics Platform Santiment
The crypto analytics platform Santiment says there may be a bull case for Ethereum (ETH) in 2025, even as it continues to display rising levels of bearishness.
In a new strategy session, Santiment says that negative market sentiment adds to the bull case for the top smart contract platform by volume, noting that Ethereum is rife with development activity, meaning that it’s not going away anytime soon.
“Remember that there are cases for Ethereum to be a good buy in 2025. With the crowd showing an increased level of bearishness, this adds to the bullish case. Markets always move the opposite direction of the crowd’s expectations, and the logic of ‘it has underperformed for so long, therefore it will continue to do so’ is typically not a strong enough argument to be taken seriously.
Other cons we have listed (revolving mainly around ETH’s speed and cost) are more legitimate reasons, but remember that there is quite the dedicated team that is innovating and improving the project on a daily basis. And that usually doesn’t lead to a coin’s demise.”
Source: Santiment
Santiment’s data indicates that Ethereum is the seventh-ranked digital asset in terms of the most development activity during the last 30 days.
According to the market intelligence platform, even though ETH is struggling against Bitcoin (BTC), it is being carried by ETH bulls who are consistently countering major selloff events.
“Yes, there are still plenty of believers in Ethereum… If there weren’t people buying others’ consistent selloffs, the asset likely would have lost its #2 market cap position long ago.”
The top smart contract platform by volume is trading for $1,561 at time of writing, a 2.3% increase during the last 24 hours.
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