Recent market analysis has suggested that Ethereum (ETH) whales may be a key factor in the current price stagnation of the digital asset. An analysis of data from Santiment indicates that ETH whales with 1,000 to 10,000 tokens have offloaded more than 110,000 ETH tokens during the past two weeks. This presents an ongoing liquidation of multi-year locked assets that may be accountable for the current period of price stagnation.

Despite the current downward trend, Ethereum has had a successful 2020. At the beginning of the year, many investors had low expectations for ETH, having predicted it would reach only $1,500. But Ethereum has exceeded these predictions, consistently defying expectations.

Ethereum is renowned for its fast-paced development in comparison to other digital assets. Thanks to the implementation of Layer 2 protocols, the Ethereum blockchain is able to boost the overall positive sentiment it generates. Furthermore, the various upgrades on the horizon suggest a bright future for the platform.

In terms of size and market cap, Ethereum ranks second after Bitcoin. Moreover, Ethereum accounts for nearly 80% of smart contracts hosted on public blockchains. This makes it clear that the recent price stagnation- while a temporary issue- is likely to be reversed soon owing to the many positive developments being made in Ethereum's network.



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