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Ethereum Market Sentiment Index hits highest level since March 2023 on June 3

CointimeCointime2024/06/06 07:34
By:Cointime

The market's optimism about Ethereum has reached its highest point in 14 months.

According to data from cryptocurrency analysis provider The Tie, Ethereum's long-term sentiment index is calculated by comparing the positive sentiment of posts on platform X in the past 50 days with that in the past 200 days. On June 3, the index reached 66.69, the highest level since March 24, 2023. Any score above 50 indicates that the market sentiment is more optimistic in the near term.

In addition, according to CoinMarketCap data, Ethereum's price experienced moderate fluctuations on that day, maintaining between $3,700 and $3,900. On May 20, Ethereum's price quickly rose from below $3,100 to nearly $3,700, and its volatility remained low for the following weeks. (Forbes)

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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