On-chain data shows the Ethereum sharks and whales have continued to sell for four months now, a sign that the asset may not recover soon.

Ethereum May Not Be In The Best Situation Right Now

In a new insight post, the on-chain analytics firm Santiment has looked into how the various metrics related to Ethereum look like at the moment to get hints about the asset’s future outcome.

First, the analytics firm has discussed the asset’s “transaction volume,” that is the daily total number of tokens that are being transferred on the network.

Here is a chart that shows the trend in this indicator:

As is visible in the graph, the Ethereum transaction volume has gone down recently and has hit some low levels, suggesting that the network isn’t observing much usage currently.

“Though not …