PANews reported on February 11 that Citibank's latest report pointed out that the price of Ethereum (ETH) has fallen by more than 20% this year, but its fundamentals are improving. The total value locked (TVL) on the Ethereum network has risen sharply, and the Ethereum ETF continues to attract capital inflows, with a cumulative inflow of US$3.2 billion since its launch in July. In addition, related search popularity is also rising.

Despite the recent volatility in user activity, Citi analysts said that Ethereum's fundamentals are not entirely pessimistic. The report also mentioned that former US President Trump's World Liberty Financial holds more than $200 million in Ethereum, which may be seen as an additional impetus for the United States to strengthen its support for the encryption industry. At the same time, Ethereum's weak performance coincides with the rise in Bitcoin's dominance rate, which has now risen to a multi-year high of more than 60%.