Recent slow progress and weak performance of Ethereum has led many in the community to “besiege” it. However, crypto researcher Ignas believes that this situation is bullish for Ether (ETH) because despite the bearish sentiment in the market, the community still cares about its future. It is only when people give up and leave that Ethereum truly falls into trouble.
Last weekend, Ignas wrote on the community platform X:
Using Cosmos as an example, Ignas mentioned that the L1 blockchain seems to have reached a point where people no longer care, even though the price of its native token $ATOM is low. They sell and then leave.
However, Ignas warned that although Ethereum has not reached this level of distress, “bad signs are emerging.” Ignas further stated:
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