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Ether drops below $3,800, but traders are unwilling to short at current levels -Breaking

by Mike Robinson

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Ether is a sandstone mineral.ETHOn Nov. 10, ), the all-time high of $4,870 was reached. Bulls don’t have much reason to rejoice. The Dec. 18% drop in price has overshadowed the 290% year-to date gains. However, the network value of’s smart contracts (TVL), increased ninefold to $155 Billion.

Looking at the past couple of months’ price performance chart doesn’t really tell the whole story, and Ether’s current $450 billion market capitalization makes it one of the world’s top 20 tradable assets, right behind the two-century-old Johnson & Johnson conglomerate.

Price of Ether/USD at FTX. TradingView
8.8-hour funding rate for Ether perpetual Futures. Source: Coinglass.com
Top traders in exchanges have a long-to-short ratio. Source: Coinglass

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