ETH - Ethereum in 2 Charts: Is It Time to Sell?
2023-05-07 07:00:00 ET
Ethereum (CRYPTO: ETH) , the world's second most valuable cryptocurrency by market cap, is in a unique position. Since the start of the year it is up more than 50%, and yet it is still down more than 60% from its all-time high of almost $4,900.
Because of its hot start in 2023, it can be difficult to gauge whether Ethereum is a buy or a sell today. To get an answer to this question we need to do a little digging to find data from Ethereum's network that provides some historical context on its current position in the market.
One of the most important developments to come out of the cryptocurrency industry recently was The Merge , an upgrade that switched Ethereum from the clunky and energy-consuming proof-of-work method of verifying transactions to the more robust and energy-efficient proof-of-stake method.
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Ethereum in 2 Charts: Is It Time to Sell?