Data: Ethereum Market Sentiment Index Reaches Highest Level Since March 2023

2024-06-06 08:38:50

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ChainCatcher news, according to Forbes, market optimism for Ethereum surged to its highest point in 14 months yesterday. According to data from cryptocurrency analytics provider The Tie, Ethereum's long-term sentiment index is calculated by comparing the positivity of posts on X over the past 50 days to that over the past 200 days.

On June 3, the index reached 66.69, the highest level since March 24, 2023. Any score above 50 indicates a more optimistic recent market sentiment.

Additionally, according to CoinMarketCap data, Ethereum's price experienced moderate fluctuations yesterday, maintaining between $3700 and $3900. On May 20, Ethereum's price quickly rose from below $3100 to nearly $3700, and the volatility of the cryptocurrency has remained low in the following weeks.

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