Ether (Ether) has underperformed but the total amount locked in the Ethereum network rises: Citi
Ether (Ether) has underperformed year-to-date, denying more than 20%, but foundations improves and the total amount locked (TVL) on the Ethereum blockchain has increased significantly, Wall Street said Bank Citi (C) in a research report Monday.
“While user activity has been a change of mind in recent weeks, the main backdrop is not all annoying,” written by analysts led by Alex Saunders.
Citi noted that TVL in the Ether Exchange (ETF) funds increased, as funds are still in shock, and the search interest is rising.
Following the US election in November, the ETF flow became positive, the report was mentioned, with a total of $ 3.2 billion from their July Launch.
The user’s stronger growth in Layer-2 and Blockchain rivals like Solana has raised questions about Ethereum’s competitive advantage, the report said.
President Trump World Liberty Financial It holds over $ 200 million of the ether, and this can be viewed as “additional motivation to ensure the US boost its support in the crypto industry,” the bank said.
“The relative performance of ETH and Altcoin can serve as a scale for how to optimize the industry about compliance with the clarity of the US regulation,” the report added.
Citi noted that ether’s weakness coincides with an increase in dominance in Bitcoin (BTC), which is now in multi-year highs of over 60%.
Read more: Ethereum faces ‘intense’ competition from other networks: JPMorgan
