Ethereum has posted its sixth consecutive monthly loss, marking its second-longest losing streak since 2018, according to CoinGlass data. The cryptocurrency, which is second only to Bitcoin by market capitalization, is facing significant downward pressure due to factors such as whale distribution, intense derivatives selling, macroeconomic uncertainty, and outflows from spot ETFs. In 2018, Ethereum experienced a similar downturn, dropping to under $85 by December, largely due to the collapse of the ICO bubble. As of now, Ethereum is trading slightly above its 2018 peak, with predictions from Standard Chartered and VanEck suggesting potential future highs of $7,500 and $10,000, respectively, based on the network's role in stablecoins, DeFi, and tokenization.
Ethereum Records Sixth Consecutive Monthly Loss Amid Market Pressures
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