Ethereum has recently faced criticism from many in the community due to its slow progress and weak performance in terms of price. However, cryptocurrency researcher Ignas believes that this situation is actually bullish for Ethereum (ETH) because despite the bearish sentiment in the market, the community still cares about its future. Ignas argues that Ethereum will only truly be in trouble when people give up and leave.
Last weekend, Ignas wrote on the community platform X, using Cosmos as an example to illustrate his point. He stated that Cosmos, a Layer 1 blockchain, seems to have reached a point where people have lost interest, even though the price of its native token, $ATOM, is low. They have sold off their tokens and moved on.
However, Ignas warned that although Ethereum has not reached this critical state yet, “bad signs are emerging.” Ignas further stated:
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