ETH has been on everyone’s lips lately. However, the reasons for this are not very good. The cryptocurrency market in general is not in the best of health. Sentiment is deteriorating as March, which will end the first quarter of 2025, is poised to close with a bearish drop in the prices of Bitcoin (BTC), Ethereum (ETH), and almost all altcoins.
Amid all this gloom, Ethereum ended the first quarter of this year with its worst profitability since 2018.
This is particularly disappointing news for those who was waiting for the altcoin season. Ethereum’s quarterly returns have typically been very high in the first quarter. More importantly, ETH has tended to set a new value record during this period in the years following the Bitcoin halving. But not this time.
Over the past three months, Ethereum has experienced a record number of sales. Long-term holders and big players («whales») started selling Ether during this year’s crypto market crash.
Also, in early March, the Ethereum blockchain network encountered technical problems during a major Pectra update, forcing developers to stop the update.