Ethereum (ETH) investor sentiment up until September 23, 2022
Ethereum market sentiment was bullish in April and May 2021, as is shown in the development of the cryptocurrency's NVT ratio. The Network Value to Transactions or NVT ratio is somewhat comparable to a P/E ratio, in that it compares the number of transactions of a particular coin on a set day against that coin's market cap. A low NVT ratio means that that transaction volume of a cryptocurrency is growing faster than the coin's market cap - meaning investor sentiment is bullish, or optimistic - whereas a high ratio refers to a network that has a relatively high network value but low network activity - meaning sentiment is bearish, or negative.
