ETH Update

ETH has gained a lot of traction this year, it seems to be consolidating from its recent ATH in October @ 4875. Outflows from ETH this week have been fairly high and even higher than BTC for the month of December with outflows amounting to ~$63.6m this week and ~68.4m this month. Although there are excessive outflows within Ethereum it is most likely large amounts of profit taking given the extra push given by the metaverse within the Ethereum ecosystem. ETH is in dangerous waters at the moment and I could see a move down to 3664.18 given the current momentum of ETH but there is also room for a move up past ATH with the appropriate catalyst, but my opinion for right now is that ETH is not in the best place for buying and Ethereum dominance has been creeping downwards as of late with dominance moving to smaller-cap cryptocurrencies like ADA/SOL.