Santiment: ETH's Weakness post Pectra Upgrade Triggers Retail Panic Selling, Contrarian Play Yields Big Profits

BlockBeats News, May 9th - According to Santiment analysis, following the recent Pectra upgrade, ETH's price performance has been poor. Some traders, especially retail investors, sold off their ETH and instead flocked to other Memecoins.

However, following the retail panic, ETH has shown a different performance in the past two days, reclaiming the $2,075 level for the first time in over 6 weeks. This may demonstrate a contrarian strategy to profit against the retail investor crowd.