Ethereum Heads for Second-Worst First Half Performance Since 2022

Ethereum's price has been on a decline for several months, and it's now facing another potential double-digit quarterly loss. According to data from CoinGlass, ETH is down by 29% in Q1 and 21% in Q2 so far this year, putting it on track for its second-worst first half of the year since 2022.

Daan Crypto Trades notes that the altcoin's price has been volatile, barely setting a new all-time high last year before crashing to a 14-month low of $1,500. The analyst remains optimistic about Ethereum's role in tokenization and DeFi, but warns that bear markets can be longer than expected.

Fellow analyst Ali Martinez points out that Ethereum investors have been withdrawing their funds from exchanges en masse lately, with almost 500,000 ETH worth around $800 million taken out of trading platforms in just a week. However, Martinez also notes that ETH's actual price bottom could be more than 50% away from the current levels at around $700.