The ETH is on a downward trend. Although there are no specific factors for the cryptocurrency, Ethereum developers are changing jobs.
While Ethereum has not broken through the resistance level of $4,050 and is below $3,800, CoinTelegraph has diagnosed that this downward trend is a normal level of correction. The media said, “The current annual premium for Ethereum futures is at the level of 17%, unchanged from the previous week. The high premium may indicate that demand for Ethereum leverage has increased due to arbitrage opportunities for perpetual contracts.” “The decline in Ethereum seems to be the result of macroeconomic concerns rather than specific factors in cryptocurrency.” Investor confidence is likely to have fallen due to China's announcement of an antitrust investigation into Nvidia and China's inflation data. Nevertheless, the investment sentiment of traders in the derivatives market is optimistic.” he explained.
Meanwhile, Max Resnick, a developer in the Ethereum ecosystem, has announced that he will leave ConsenSys and transfer to SOL. He said in an interview with CoinDesk, “Ethereum lacks a streamlined process for rapid change. While Ethereum's decision-making is not as inefficient as Bitcoin's, there is still internal politics in the operation of the network. There is a big and important discussion about improving the network in Vitalik's DM. On the other hand, there are much more possibilities and potential in Solana.” He said in an interview with CoinDesk.
