Coinbase: ETH’s poor performance is related to the current crypto market structure

"ETH's network activity and supply inflation are important factors in its underperformance, but we also believe that price action is driven by current market structure," David Duong, global head of research at Coinbase, said in a report. Duong noted that many cryptocurrency investors are focused on altcoins and other positions that are increasingly difficult to exit, which may trap funds that would otherwise flow to networks like Ethereum in the broader crypto ecosystem. "In order for Ethereum to catch up, we believe it needs a new catalyst to help reignite developer and investor enthusiasm," he added. Duong said Ethereum's lack of a new narrative and limited capital supply have increased its scrutiny relative to other chains. (The Block)